Gap Inc. (GPS) Given a $20.00 Price Target by Bank of America Corp. Analysts
Several other research analysts have also recently weighed in on the company. Jefferies Group restated a buy rating on shares of Gap in a research note on Monday, August 29th. Vetr lowered Gap from a hold rating to a sell rating and set a $23.22 price objective for the company. in a report on Thursday, July 21st. FBR & Co reaffirmed a market perform rating and issued a $22.00 price objective 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 reaffirmed an underperform rating and issued a $22.00 price objective (up previously from $21.00) on shares of Gap in a report 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 stock. The company presently has an average rating of Hold and an average target price of $25.17.
Shares of Gap (NYSE:GPS) opened at 26.56 on Thursday. 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 $23.86 and a 200 day moving average price of $22.97. The stock has a market cap of $10.58 billion, a PE ratio of 14.96 and a beta of 1.28.
Gap (NYSE:GPS) last posted its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm earned $3.85 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. On average, equities analysts expect that Gap will post ($0.01) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, October 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.46%. Gap’s payout ratio is currently 51.98%.
Large investors have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in Gap by 4.2% in the first quarter. Legal & General Group Plc now owns 1,119,779 shares of the apparel retailer’s stock worth $32,922,000 after buying an additional 45,600 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in Gap by 233.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 570,237 shares of the apparel retailer’s stock worth $12,101,000 after buying an additional 399,449 shares during the period. PGGM Investments boosted its stake in Gap by 79.7% in the second quarter. PGGM Investments now owns 1,695,205 shares of the apparel retailer’s stock worth $35,972,000 after buying an additional 751,688 shares during the period. Babson Capital Management LLC boosted its stake in Gap by 200.8% in the first quarter. Babson Capital Management LLC now owns 75,195 shares of the apparel retailer’s stock worth $2,211,000 after buying an additional 50,200 shares during the period. Finally, Beddow Capital Management Inc. acquired a new stake in Gap during the first quarter worth approximately $226,000. Hedge funds and other institutional investors 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.
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