Gap Inc. (GPS) PT Raised to $22.78
Gap Inc. (NYSE:GPS) had its target price increased by equities researchers at Jefferies Group to $22.78 in a research report issued on Friday. The firm presently has a “hold” rating on the apparel retailer’s stock. Jefferies Group’s target price points to a potential downside of 13.78% from the stock’s previous close.
GPS has been the topic of several other reports. Vetr upgraded shares of Gap from a “sell” rating to a “hold” rating and set a $25.65 price objective on the stock in a research report on Monday, July 25th. Canaccord Genuity reiterated a “buy” rating on shares of Gap in a research report on Wednesday, August 17th. Stifel Nicolaus reiterated a “hold” rating on shares of Gap in a research report on Friday, August 19th. Deutsche Bank AG decreased their price objective on shares of Gap from $19.00 to $18.00 and set a “sell” rating on the stock in a research report on Friday, August 19th. Finally, MKM Partners reiterated a “hold” rating and issued 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 given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $25.17.
Shares of Gap (NYSE:GPS) opened at 26.42 on Friday. The firm has a market capitalization of $10.53 billion, a PE ratio of 14.88 and a beta of 1.28. The firm’s 50 day moving average is $23.86 and its 200-day moving average is $22.94. Gap has a 12 month low of $17.00 and a 12 month high of $30.49.
Gap (NYSE:GPS) last released its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.60 EPS for the quarter, topping the consensus estimate of $0.59 by $0.01. Gap had a net margin of 4.60% and a return on equity of 33.26%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts expect that Gap will post ($0.01) EPS for the current fiscal year.
The firm 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 of this dividend is Monday, October 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 3.48%. Gap’s payout ratio is presently 51.98%.
Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in shares of Gap by 11.7% in the second quarter. Pacer Advisors Inc. now owns 5,777 shares of the apparel retailer’s stock worth $123,000 after buying an additional 606 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Gap by 22.1% in the second quarter. Advisory Services Network LLC now owns 5,869 shares of the apparel retailer’s stock worth $125,000 after buying an additional 1,062 shares during the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of Gap during the second quarter worth approximately $139,000. Sigma Planning Corp acquired a new stake in shares of Gap during the second quarter worth approximately $216,000. Finally, Beddow Capital Management Inc. acquired a new stake in shares of Gap during the first quarter worth approximately $226,000. Hedge funds and other institutional investors own 57.42% of the company’s stock.
Gap Company Profile
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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