Gap Inc. (GPS) Raised to Buy at Vetr Inc.
Vetr upgraded shares of Gap Inc. (NYSE:GPS) from a hold rating to a buy rating in a research report released on Monday morning. They currently have $26.76 price objective on the apparel retailer’s stock.
GPS has been the topic of a number of other reports. Jefferies Group set a $32.00 price target on Gap and gave the stock a buy rating in a research note on Saturday, October 8th. Cowen and Company set a $25.00 price target on Gap and gave the stock a hold rating in a research note on Saturday, November 19th. BMO Capital Markets reissued a hold rating on shares of Gap in a research note on Saturday, November 19th. Wedbush reissued a neutral rating and issued a $25.00 price target on shares of Gap in a research note on Sunday, September 4th. Finally, RBC Capital Markets reissued a hold rating and issued a $23.00 price target (up from $20.00) on shares of Gap in a research note on Tuesday, August 9th. Four 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 company currently has a consensus rating of Hold and a consensus target price of $24.84.
Gap (NYSE:GPS) opened at 24.97 on Monday. Gap has a 12 month low of $17.00 and a 12 month high of $30.74. The firm has a market capitalization of $9.96 billion, a P/E ratio of 14.86 and a beta of 1.06. The stock’s 50 day moving average price is $26.90 and its 200-day moving average price is $23.63.
Gap (NYSE:GPS) last posted its quarterly earnings data on Thursday, November 17th. The apparel retailer reported $0.60 EPS for the quarter, meeting analysts’ consensus estimates of $0.60. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.74 billion. Gap had a return on equity of 32.19% and a net margin of 4.33%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. On average, analysts forecast that Gap will post $1.94 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 4th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Friday, December 30th. Gap’s dividend payout ratio is presently 55.09%.
In other news, President Jeff Kirwan sold 11,406 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $484,605.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul Joseph Chapman sold 6,764 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $24.99, for a total value of $169,032.36. The disclosure for this sale can be found here. 30.00% of the stock is owned by insiders.
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 period. 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 period. Americafirst Capital Management LLC bought a new stake in shares of Gap during the second quarter worth about $139,000. Toronto Dominion Bank raised its stake in shares of Gap by 362.7% in the third quarter. Toronto Dominion Bank now owns 6,691 shares of the apparel retailer’s stock worth $149,000 after buying an additional 5,245 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Gap during the third quarter worth about $161,000. 58.00% of the stock is currently owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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