GAP (NYSE:GPS) had its price target decreased by B. Riley from $30.00 to $21.00 in a report issued on Friday, BenzingaRatingsTable reports. B. Riley currently has a neutral rating on the apparel retailer’s stock. B. Riley also issued estimates for GAP’s Q3 2020 earnings at $0.63 EPS and Q4 2020 earnings at $0.70 EPS.

A number of other analysts have also recently weighed in on the company. Wedbush cut their price target on GAP from $23.00 to $19.00 and set a neutral rating on the stock in a research note on Friday. Nomura cut their price target on GAP from $22.00 to $32.00 and set a neutral rating on the stock in a research note on Friday. JPMorgan Chase & Co. dropped their price objective on GAP from $24.00 to $17.00 and set an underweight rating on the stock in a report on Friday. Bank of America reaffirmed an underperform rating and set a $15.00 price objective (down previously from $24.00) on shares of GAP in a report on Friday. Finally, ValuEngine lowered GAP from a sell rating to a strong sell rating in a report on Monday, May 13th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $26.52.

GAP stock opened at $18.79 on Friday. GAP has a 1-year low of $17.12 and a 1-year high of $34.21. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.70 and a current ratio of 1.49. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 7.25, a price-to-earnings-growth ratio of 0.98 and a beta of 0.79.

GAP (NYSE:GPS) last posted its quarterly earnings results on Thursday, May 30th. The apparel retailer reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.07). GAP had a net margin of 6.46% and a return on equity of 26.73%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, analysts anticipate that GAP will post 2.12 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a dividend yield of 5.16%. The ex-dividend date is Tuesday, July 9th. GAP’s payout ratio is 37.45%.

In other GAP news, CEO Sonia Syngal sold 11,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $26.51, for a total transaction of $311,863.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Julie Gruber sold 3,286 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $24.00, for a total value of $78,864.00. The disclosure for this sale can be found here. Company insiders own 37.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cerebellum GP LLC lifted its position in GAP by 29.9% in the first quarter. Cerebellum GP LLC now owns 13,035 shares of the apparel retailer’s stock valued at $341,000 after purchasing an additional 3,003 shares during the period. FMR LLC lifted its position in GAP by 1,723.2% in the first quarter. FMR LLC now owns 251,986 shares of the apparel retailer’s stock valued at $6,597,000 after purchasing an additional 238,165 shares during the period. HighTower Advisors LLC lifted its position in GAP by 6.5% in the first quarter. HighTower Advisors LLC now owns 10,387 shares of the apparel retailer’s stock valued at $269,000 after purchasing an additional 630 shares during the period. Man Group plc lifted its position in GAP by 17.2% in the first quarter. Man Group plc now owns 367,925 shares of the apparel retailer’s stock valued at $9,632,000 after purchasing an additional 53,881 shares during the period. Finally, SEI Investments Co lifted its position in GAP by 162.6% in the first quarter. SEI Investments Co now owns 173,079 shares of the apparel retailer’s stock valued at $4,574,000 after purchasing an additional 107,170 shares during the period. 57.66% of the stock is currently owned by hedge funds and other institutional investors.

GAP Company Profile

The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.

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Analyst Recommendations for GAP (NYSE:GPS)

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