Deutsche Bank AG upgraded shares of Gap Inc. (NYSE:GPS) from a sell rating to a hold rating in a research report sent to investors on Friday morning. The brokerage currently has $24.00 target price on the apparel retailer’s stock, up from their previous target price of $18.00.
A number of other equities research analysts have also recently issued reports on the company. Jefferies Group restated a buy rating on shares of Gap in a research note on Monday, August 29th. Vetr cut Gap from a hold rating to a sell rating and set a $23.22 price objective on the stock. in a research note on Thursday, July 21st. FBR & Co restated a market perform rating and issued a $22.00 price objective on shares of Gap in a research note on Wednesday, July 6th. Wolfe Research upgraded Gap from a market perform rating to an outperform rating in a research note on Friday, June 17th. Finally, Credit Suisse Group AG restated an underperform rating and issued a $22.00 price objective (up from $21.00) on shares of Gap in a research note on Friday, August 19th. Six research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and five have assigned a buy rating to the company. Gap presently has an average rating of Hold and an average price target of $25.17.
Gap (NYSE:GPS) opened at 26.56 on Friday. The stock has a 50 day moving average of $23.86 and a 200-day moving average of $22.97. Gap has a 12-month low of $17.00 and a 12-month high of $30.49. The company has a market cap of $10.58 billion, a PE ratio of 14.96 and a beta of 1.28.
Gap (NYSE:GPS) last announced its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.01. Gap had a return on equity of 33.26% and a net margin of 4.60%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the business posted $0.64 EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that Gap will post ($0.01) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.46%. Gap’s dividend payout ratio is currently 51.98%.
Large investors have recently added to or reduced their stakes in the company. Blair William & Co. IL boosted its stake in Gap by 0.5% in the second quarter. Blair William & Co. IL now owns 18,164 shares of the apparel retailer’s stock worth $385,000 after buying an additional 84 shares in the last quarter. Cypress Capital Group boosted its stake in Gap by 0.9% in the first quarter. Cypress Capital Group now owns 16,426 shares of the apparel retailer’s stock worth $482,000 after buying an additional 148 shares in the last quarter. Charter Trust Co. boosted its stake in Gap by 1.6% in the second quarter. Charter Trust Co. now owns 11,374 shares of the apparel retailer’s stock worth $241,000 after buying an additional 175 shares in the last quarter. Advantus Capital Management Inc boosted its stake in Gap by 1.4% in the second quarter. Advantus Capital Management Inc now owns 21,945 shares of the apparel retailer’s stock worth $466,000 after buying an additional 305 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Gap by 1.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,365 shares of the apparel retailer’s stock worth $432,000 after buying an additional 320 shares in 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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