Gap Inc. (NYSE:GPS) had its price target boosted by stock analysts at Jefferies Group to $22.78 in a research note issued on Friday. The brokerage currently has a “hold” rating on the apparel retailer’s stock.
Several other research firms have also commented on GPS. Oppenheimer Holdings Inc. reaffirmed a “” rating and issued a $20.00 price target on shares of Gap in a report on Monday, August 22nd. Vetr lowered shares of Gap from a “buy” rating to a “hold” rating and set a $27.90 price target for the company. in a report on Monday, August 22nd. Citigroup Inc. lifted their price target on shares of Gap from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, August 19th. JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $22.00 price target on shares of Gap in a report on Friday, August 19th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Gap in a report on Friday, August 19th. Six investment analysts have rated the stock with a sell rating, twenty-seven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $24.73.
Gap (NYSE:GPS) opened at 22.78 on Friday. The firm’s 50-day moving average is $23.87 and its 200 day moving average is $23.07. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 12.83 and a beta of 1.28. Gap has a 12 month low of $17.00 and a 12 month high of $30.49.
Gap (NYSE:GPS) last announced its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The company earned $3.85 billion during the quarter, compared to analyst estimates of $3.79 billion. Gap had a net margin of 4.60% and a return on equity of 33.26%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. Equities analysts predict that Gap will post ($0.01) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Monday, October 3rd. Gap’s payout ratio is presently 51.98%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acropolis Investment Management LLC increased its position in shares of Gap by 1.2% in the third quarter. Acropolis Investment Management LLC now owns 74,920 shares of the apparel retailer’s stock worth $1,666,000 after buying an additional 900 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Gap by 11.2% in the third quarter. BNP Paribas Arbitrage SA now owns 154,810 shares of the apparel retailer’s stock worth $3,443,000 after buying an additional 15,647 shares during the last quarter. Kentucky Retirement Systems bought a new position in shares of Gap during the second quarter worth approximately $409,000. Mason Street Advisors LLC bought a new position in shares of Gap during the second quarter worth approximately $648,000. Finally, Tobam increased its position in shares of Gap by 61.3% in the second quarter. Tobam now owns 2,175,221 shares of the apparel retailer’s stock worth $46,159,000 after buying an additional 826,805 shares during the last quarter. 57.42% of the stock is currently owned by hedge funds and other institutional investors.
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.
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