The Gap (NYSE:GPS) had its price objective increased by Telsey Advisory Group from $17.00 to $23.00 in a research report report published on Friday morning, AnalystRatings.net reports. The brokerage currently has a market perform rating on the apparel retailer’s stock.
A number of other research firms have also recently weighed in on GPS. BMO Capital Markets upped their price target on The Gap from $9.00 to $16.00 and gave the stock a market perform rating in a report on Friday, August 28th. UBS Group upped their price target on The Gap from $12.00 to $17.00 and gave the stock a neutral rating in a report on Tuesday, September 1st. Royal Bank of Canada increased their target price on The Gap from $21.00 to $24.00 and gave the company an outperform rating in a report on Monday, October 19th. Bank of America increased their target price on The Gap from $18.00 to $21.00 and gave the company a neutral rating in a report on Thursday, October 15th. Finally, BofA Securities upgraded The Gap from an underperform rating to a neutral rating and set a $18.00 target price on the stock in a report on Friday, August 28th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $19.37.
Shares of GPS stock opened at $20.60 on Friday. The company has a market cap of $7.70 billion, a price-to-earnings ratio of -7.36 and a beta of 1.58. The stock has a 50 day simple moving average of $18.18 and a 200-day simple moving average of $13.07. The Gap has a 12-month low of $5.26 and a 12-month high of $21.65. The company has a current ratio of 1.46, a quick ratio of 0.85 and a debt-to-equity ratio of 0.98.
The Gap (NYSE:GPS) last released its quarterly earnings results on Thursday, August 27th. The apparel retailer reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.24. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $2.92 billion. The Gap had a negative return on equity of 18.48% and a negative net margin of 7.39%. The company’s revenue was down 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. On average, equities analysts forecast that The Gap will post -2.01 earnings per share for the current fiscal year.
In related news, CEO Sonia Syngal sold 36,830 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $17.58, for a total value of $647,471.40. Following the transaction, the chief executive officer now directly owns 57,085 shares of the company’s stock, valued at approximately $1,003,554.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Julie Gruber sold 29,109 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $14.98, for a total value of $436,052.82. The disclosure for this sale can be found here. 45.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of GPS. AQR Capital Management LLC raised its position in shares of The Gap by 322.6% in the 2nd quarter. AQR Capital Management LLC now owns 6,439,503 shares of the apparel retailer’s stock worth $79,077,000 after buying an additional 4,915,682 shares during the period. Third Point LLC purchased a new stake in shares of The Gap during the second quarter worth about $37,860,000. Skandinaviska Enskilda Banken AB publ grew its stake in The Gap by 625.8% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 3,274,780 shares of the apparel retailer’s stock worth $23,054,000 after purchasing an additional 2,823,615 shares in the last quarter. FMR LLC grew its stake in The Gap by 32,207.0% in the second quarter. FMR LLC now owns 1,867,992 shares of the apparel retailer’s stock worth $23,574,000 after purchasing an additional 1,862,210 shares in the last quarter. Finally, State Street Corp boosted its stake in The Gap by 13.5% in the first quarter. State Street Corp now owns 13,339,983 shares of the apparel retailer’s stock valued at $93,913,000 after acquiring an additional 1,591,094 shares during the period. 57.25% of the stock is currently owned by institutional investors and hedge funds.
About The Gap
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, Janie and Jack, and Hill City brands. Its products include denim, tees, fleece, 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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