Gap Inc. (GPS) Stock Rating Upgraded by Piper Jaffray Cos.
Gap Inc. (NYSE:GPS) was upgraded by investment analysts at Piper Jaffray Cos. from an “underweight” rating to a “neutral” rating in a report issued on Monday. The brokerage currently has a $23.00 price objective on the apparel retailer’s stock. Piper Jaffray Cos.’s price objective suggests a potential downside of 8.87% from the company’s current price. The analysts noted that the move was a valuation call.
Several other equities analysts also recently commented on the stock. Jefferies Group reissued a “positive” rating on shares of Gap in a research report on Monday. Vetr raised shares of Gap from a “hold” rating to a “buy” rating and set a $26.76 target price on the stock in a research report on Monday. Zacks Investment Research downgraded shares of Gap from a “buy” rating to a “hold” rating in a research report on Tuesday, November 22nd. Deutsche Bank AG reissued a “hold” rating and set a $23.00 target price (down from $25.00) on shares of Gap in a research report on Monday, November 21st. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Gap in a research report on Saturday, November 19th. Four equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $24.84.
Gap (NYSE:GPS) opened at 25.24 on Monday. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 15.02 and a beta of 1.06. The company has a 50-day moving average price of $26.98 and a 200 day moving average price of $23.57. Gap has a 1-year low of $17.00 and a 1-year high of $30.74.
Gap (NYSE:GPS) last posted its earnings results on Thursday, November 17th. The apparel retailer reported $0.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.74 billion. Gap had a net margin of 4.33% and a return on equity of 32.19%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. Equities analysts anticipate that Gap will post $1.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4th will be given a $0.23 dividend. The ex-dividend date is Friday, December 30th. This represents a $0.92 annualized dividend and a yield of 3.65%. Gap’s dividend payout ratio is currently 55.09%.
In other Gap news, EVP Paul Joseph Chapman sold 6,764 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $24.99, for a total transaction of $169,032.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Jeff Kirwan sold 11,406 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $25.38, for a total transaction of $289,484.28. Following the sale, the president now directly owns 19,094 shares in the company, valued at $484,605.72. The disclosure for this sale can be found here. 30.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Gap by 520.6% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 942,678 shares of the apparel retailer’s stock valued at $20,964,000 after buying an additional 790,790 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Gap during the third quarter valued at approximately $1,557,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Gap during the third quarter valued at approximately $551,000. 1832 Asset Management L.P. acquired a new stake in shares of Gap during the third quarter valued at approximately $1,238,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Gap during the third quarter valued at approximately $409,000. 58.00% of the stock is currently owned by hedge funds and other institutional investors.
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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