Gap Inc. (NYSE:GPS) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Tuesday. They currently have a $25.82 price target on the apparel retailer’s stock. Vetr‘s price objective indicates a potential upside of 1.33% from the stock’s previous close.
A number of other equities research analysts also recently commented on the company. Jefferies Group reiterated a “buy” rating on shares of Gap in a research report on Monday, August 29th. Credit Suisse Group AG reiterated an “underperform” rating and set a $22.00 price objective (up previously from $21.00) on shares of Gap in a research report on Friday, August 19th. Deutsche Bank AG upgraded Gap from a “sell” rating to a “hold” rating and increased their price objective for the company from $18.00 to $24.00 in a research report on Friday, October 7th. Bank of America Corp. set a $20.00 price objective on Gap and gave the company a “sell” rating in a research report on Thursday, October 6th. Finally, MKM Partners reiterated a “neutral” rating and set a $25.00 price objective on shares of Gap in a research report on Wednesday, October 12th. Four analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $24.84.
Shares of Gap (NYSE:GPS) opened at 25.48 on Tuesday. The stock has a market cap of $10.17 billion, a P/E ratio of 15.17 and a beta of 1.06. The firm’s 50-day moving average price is $26.98 and its 200-day moving average price is $23.57. Gap has a 52-week low of $17.00 and a 52-week high of $30.74.
Gap (NYSE:GPS) last announced its quarterly earnings data on Thursday, November 17th. The apparel retailer reported $0.60 EPS for the quarter, meeting analysts’ consensus estimates of $0.60. Gap had a return on equity of 32.19% and a net margin of 4.33%. The company earned $3.80 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that Gap will post $1.94 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, December 30th. Gap’s payout ratio is presently 55.09%.
In related news, President Jeff Kirwan sold 11,406 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $25.38, for a total value of $289,484.28. Following the completion of the sale, the president now owns 19,094 shares in the company, valued at $484,605.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Paul Joseph Chapman sold 6,764 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $24.99, for a total transaction of $169,032.36. The disclosure for this sale can be found here. 30.00% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Cornerstone Capital Management Holdings LLC. boosted its stake in Gap by 520.6% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 942,678 shares of the apparel retailer’s stock valued at $20,964,000 after buying an additional 790,790 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Gap during the third quarter valued at $1,557,000. Xact Kapitalforvaltning AB bought a new stake in Gap during the third quarter valued at $551,000. 1832 Asset Management L.P. bought a new stake in Gap during the third quarter valued at $1,238,000. Finally, Highbridge Capital Management LLC bought a new stake in Gap during the third quarter valued at $409,000. Institutional investors and hedge funds own 58.00% of the company’s stock.
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.