Gap’s (GPS) Buy Rating Reaffirmed at Jefferies Group
GPS has been the topic of several other reports. Oppenheimer Holdings Inc. restated a rating and set a $20.00 target price on shares of Gap in a report on Monday, August 22nd. Vetr lowered Gap from a buy rating to a hold rating and set a $27.90 target price on the stock. in a report on Monday, August 22nd. MKM Partners restated a neutral rating and set a $25.00 target price on shares of Gap in a report on Wednesday, October 12th. Buckingham Research restated a neutral rating and set a $23.00 target price on shares of Gap in a report on Monday, October 10th. Finally, Citigroup Inc. raised their target price on Gap from $24.00 to $27.00 and gave the company a neutral rating in a report on Friday, August 19th. Six research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $25.29.
Shares of Gap (NYSE:GPS) traded down 1.30% on Monday, reaching $25.82. The company had a trading volume of 1,757,288 shares. Gap has a 52-week low of $17.00 and a 52-week high of $30.49. The firm has a market capitalization of $10.29 billion, a PE ratio of 14.55 and a beta of 1.28. The company has a 50-day moving average price of $23.84 and a 200-day moving average price of $22.89.
Gap (NYSE:GPS) last announced its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share (EPS) 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 business earned $3.85 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the company earned $0.64 earnings per share. Gap’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities research analysts forecast that Gap will post ($0.01) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.92 annualized dividend and a yield of 3.52%. Gap’s dividend payout ratio is currently 51.98%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its position 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 position 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 position in shares of Gap during the second quarter worth about $139,000. Sigma Planning Corp acquired a new position in shares of Gap during the second quarter worth about $216,000. Finally, Beddow Capital Management Inc. acquired a new position in shares of Gap during the first quarter worth about $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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