Gap Inc. (GPS) Upgraded to “Hold” by Deutsche Bank AG
Deutsche Bank AG upgraded shares of Gap Inc. (NYSE:GPS) from a sell rating to a hold rating in a research note issued to investors on Friday. The firm currently has $24.00 price objective on the apparel retailer’s stock, up from their prior price objective of $18.00.
A number of other equities analysts have also recently commented on the company. Jefferies Group reissued a buy rating on shares of Gap in a report on Monday, August 29th. Vetr cut Gap from a hold rating to a sell rating and set a $23.22 price target for the company. in a report on Thursday, July 21st. FBR & Co reissued a market perform rating and set a $22.00 price target on shares of Gap in a report on Wednesday, July 6th. Wolfe Research raised Gap from a market perform rating to an outperform rating in a report on Friday, June 17th. Finally, Credit Suisse Group AG reissued an underperform rating and set a $22.00 price target (up previously from $21.00) on shares of Gap in a report on Friday, August 19th. Seven investment analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and five have given a buy rating to the stock. Gap presently has an average rating of Hold and an average price target of $25.15.
Shares of Gap (NYSE:GPS) traded up 0.42% on Friday, hitting $26.36. The company had a trading volume of 3,877,179 shares. Gap has a 12-month low of $17.00 and a 12-month high of $30.49. The firm has a 50-day moving average price of $23.88 and a 200 day moving average price of $23.05. The company has a market capitalization of $10.50 billion, a P/E ratio of 14.85 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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The firm earned $3.85 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Gap had a return on equity of 33.26% and a net margin of 4.60%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 EPS. Equities analysts expect that Gap will post ($0.01) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a dividend of $0.23 per share. The ex-dividend date is Monday, October 3rd. This represents a $0.92 annualized dividend and a yield of 3.50%. Gap’s payout ratio is 51.98%.
A number of hedge funds have recently bought and sold shares of GPS. Vanguard Group Inc. boosted its stake in Gap by 2.3% in the second quarter. Vanguard Group Inc. now owns 20,061,541 shares of the apparel retailer’s stock valued at $425,706,000 after buying an additional 444,555 shares during the last quarter. American International Group Inc. boosted its stake in shares of Gap by 3.5% in the second quarter. American International Group Inc. now owns 14,381,188 shares of the apparel retailer’s stock worth $305,169,000 after buying an additional 483,879 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Gap by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 14,135,669 shares of the apparel retailer’s stock worth $299,958,000 after buying an additional 251,964 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Gap by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 13,531,075 shares of the apparel retailer’s stock worth $287,129,000 after buying an additional 936,648 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Gap by 1.3% in the first quarter. State Street Corp now owns 10,878,900 shares of the apparel retailer’s stock worth $319,845,000 after buying an additional 140,396 shares in the last quarter. 57.42% of the stock is currently owned by institutional investors and hedge funds.
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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