Vetr upgraded shares of Gap Inc. (NYSE:GPS) from a sell rating to a hold rating in a report published on Tuesday. They currently have $25.80 price target on the apparel retailer’s stock.
Other equities analysts have also issued reports about the company. Wedbush reissued a neutral rating and set a $20.00 price target on shares of Gap in a research note on Wednesday, June 15th. Deutsche Bank AG restated a sell rating on shares of Gap in a research report on Sunday, July 10th. Cowen and Company restated a hold rating on shares of Gap in a research report on Saturday, July 9th. Guggenheim restated a hold rating on shares of Gap in a research report on Saturday, July 9th. Finally, MKM Partners restated a hold rating and set a $21.00 price objective on shares of Gap in a research report on Saturday, July 9th. Six research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $25.29.
Shares of Gap (NYSE:GPS) opened at 26.45 on Tuesday. Gap has a 52-week low of $17.00 and a 52-week high of $30.49. The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 14.90 and a beta of 1.28. The company’s 50 day moving average price is $23.85 and its 200 day moving average price is $23.00.
Gap (NYSE:GPS) last announced its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Gap had a return on equity of 33.26% and a net margin of 4.60%. The company earned $3.85 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. On average, analysts predict that Gap will post ($0.01) EPS for the current 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 issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Monday, October 3rd. Gap’s dividend payout ratio is currently 51.98%.
Several hedge funds and other institutional investors have recently modified their holdings of GPS. Levin Capital Strategies L.P. bought a new position in shares of Gap during the second quarter valued at $53,595,000. Lazard Asset Management LLC boosted its position in Gap by 25,265.6% in the first quarter. Lazard Asset Management LLC now owns 2,020,625 shares of the apparel retailer’s stock worth $59,406,000 after buying an additional 2,012,659 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in Gap during the second quarter worth approximately $36,750,000. Bank of Montreal Can acquired a new position in Gap during the second quarter worth approximately $29,343,000. Finally, Prudential Financial Inc. boosted its position in Gap by 99.4% in the second quarter. Prudential Financial Inc. now owns 2,432,145 shares of the apparel retailer’s stock worth $51,610,000 after buying an additional 1,212,479 shares in the last quarter. Institutional investors and hedge funds own 57.42% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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