Gap Inc. (NYSE:GPS) was upgraded by research analysts at Vetr from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm currently has a $26.76 target price on the apparel retailer’s stock. Vetr‘s price target indicates a potential upside of 2.22% from the company’s previous close.
GPS has been the topic of several other research reports. Mizuho upped their price objective on shares of Gap from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, November 8th. Jefferies Group restated a “buy” rating on shares of Gap in a report on Monday, August 29th. Wolfe Research restated an “outperform” rating and set a $33.00 price objective (up previously from $30.00) on shares of Gap in a report on Tuesday, November 8th. Canaccord Genuity reiterated a “buy” rating on shares of Gap in a research report on Wednesday, August 17th. Finally, Deutsche Bank AG dropped their target price on Gap from $19.00 to $18.00 and set a “sell” rating on the stock in a research report on Friday, August 19th. Five investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $24.87.
Gap (NYSE:GPS) traded down 2.33% during midday trading on Monday, reaching $25.57. 2,593,773 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $26.80 and its 200 day moving average is $23.42. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 15.22 and a beta of 1.06. Gap has a 52 week low of $17.00 and a 52 week high of $30.74.
Gap (NYSE:GPS) last posted its quarterly earnings data on Thursday, November 17th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. Gap had a net margin of 4.33% and a return on equity of 32.19%. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts anticipate that Gap will post $1.94 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 4th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Friday, December 30th. Gap’s dividend payout ratio (DPR) is presently 55.09%.
In other news, President Jeff Kirwan sold 11,406 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $25.38, for a total transaction of $289,484.28. Following the sale, the president now owns 19,094 shares of the company’s stock, valued at approximately $484,605.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul Joseph Chapman sold 6,764 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $24.99, for a total value of $169,032.36. The disclosure for this sale can be found here. Insiders own 30.00% of the company’s stock.
Large investors have recently modified their holdings of the company. World Asset Management Inc raised its position in Gap by 0.9% in the third quarter. World Asset Management Inc now owns 25,916 shares of the apparel retailer’s stock valued at $576,000 after buying an additional 223 shares during the period. ARGI Investment Services LLC raised its position in Gap by 8.8% in the second quarter. ARGI Investment Services LLC now owns 38,516 shares of the apparel retailer’s stock valued at $810,000 after buying an additional 3,131 shares during the period. Legal & General Group Plc raised its position in Gap by 4.2% in the first quarter. Legal & General Group Plc now owns 1,119,779 shares of the apparel retailer’s stock valued at $32,922,000 after buying an additional 45,600 shares during the period. Bank of New York Mellon Corp raised its position in Gap by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 14,135,669 shares of the apparel retailer’s stock valued at $299,958,000 after buying an additional 251,964 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in Gap by 3.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,344,140 shares of the apparel retailer’s stock valued at $70,962,000 after buying an additional 111,300 shares during the period. 58.77% of the stock is currently owned by institutional investors and hedge funds.
Gap Company Profile
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.