Gap Inc. (GPS) Trading Up 4.9%
Gap Inc. (NYSE:GPS)’s share price traded up 4.9% on Friday . The company traded as high as $23.21 and last traded at $22.69, with a volume of 8,395,719 shares traded. The stock had previously closed at $21.63.
A number of equities research analysts have commented on GPS shares. MKM Partners lifted their target price on shares of Gap from $25.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, March 14th. Morgan Stanley downgraded shares of Gap from an “equal weight” rating to an “underweight” rating and set a $26.00 target price for the company. in a research report on Wednesday, March 16th. They noted that the move was a valuation call. Stifel Nicolaus lifted their target price on shares of Gap from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, March 10th. Vetr raised shares of Gap from a “hold” rating to a “buy” rating and set a $31.70 target price for the company in a research report on Monday, April 4th. Finally, KeyCorp raised shares of Gap from a “sector weight” rating to an “overweight” rating and set a $36.00 target price for the company in a research report on Monday, April 4th. Nine research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and seven have assigned a buy rating to the stock. Gap presently has an average rating of “Hold” and a consensus target price of $23.78.
The company’s 50 day moving average price is $19.55 and its 200-day moving average price is $23.75. The stock has a market capitalization of $9.03 billion and a P/E ratio of 11.38.
Gap (NYSE:GPS) last issued its earnings results on Thursday, May 19th. The apparel retailer reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period last year, the firm earned $0.56 earnings per share. Gap’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities analysts forecast that Gap Inc. will post $1.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Friday, July 1st.
A number of institutional investors have recently modified their holdings of the company. Andra AP fonden increased its position in shares of Gap by 10.7% in the fourth quarter. Andra AP fonden now owns 117,700 shares of the apparel retailer’s stock worth $2,907,000 after buying an additional 11,400 shares during the period. Wharton Business Group LLC bought a new stake in Gap during the fourth quarter worth about $9,820,000. Janus Capital Management increased its stake in Gap by 49.0% in the third quarter. Janus Capital Management now owns 57,368 shares of the apparel retailer’s stock worth $1,635,000 after buying an additional 18,857 shares during the period. California State Teachers Retirement System increased its stake in Gap by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 441,592 shares of the apparel retailer’s stock worth $10,907,000 after buying an additional 7,064 shares during the period. Finally, Numeric Investors LLC increased its stake in Gap by 615.5% in the fourth quarter. Numeric Investors LLC now owns 60,100 shares of the apparel retailer’s stock worth $1,484,000 after buying an additional 51,700 shares during the period.
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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