Gap Inc. (GPS) Shares Up 3.2%
Gap Inc. (NYSE:GPS)’s share price shot up 3.2% during mid-day trading on Monday . The company traded as high as $25.30 and last traded at $25.11, with a volume of 6,242,476 shares changing hands. The stock had previously closed at $24.34.
A number of brokerages recently issued reports on GPS. Vetr upgraded 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. KeyCorp upgraded 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. FBR & Co reiterated a “hold” rating on shares of Gap in a research report on Wednesday, April 6th. MKM Partners dropped their target price on shares of Gap from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, April 8th. Finally, Wells Fargo & Co. reiterated a “market perform” rating and set a $26.00 target price (up previously from $21.00) on shares of Gap in a research report on Tuesday. Eight investment analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.33.
The firm has a market cap of $10.12 billion and a PE ratio of 12.75. The stock has a 50-day moving average price of $21.61 and a 200-day moving average price of $23.61.
Gap (NYSE:GPS) last announced its quarterly earnings data on Thursday, May 19th. The apparel retailer reported $0.32 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.32. The firm had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.51 billion. The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 earnings per share. On average, equities analysts anticipate that Gap Inc. will post $1.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, July 1st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.57%.
Several institutional investors have recently made changes to their positions in GPS. Vanguard Group Inc. boosted its position in shares of Gap by 17.5% in the fourth quarter. Vanguard Group Inc. now owns 18,407,316 shares of the apparel retailer’s stock worth $454,661,000 after buying an additional 2,744,670 shares in the last quarter. Wharton Business Group LLC purchased a new position in shares of Gap during the fourth quarter worth $9,820,000. Mandatum Life Insurance Co Ltd purchased a new position in shares of Gap during the fourth quarter worth $2,488,000. Clifford Swan Investment Counsel LLC purchased a new position in shares of Gap during the fourth quarter worth $2,180,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Gap by 20.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 498,729 shares of the apparel retailer’s stock worth $12,319,000 after buying an additional 85,549 shares in the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.