The Gap (NYSE:GPS) Given New $27.00 Price Target at Barclays

The Gap (NYSE:GPS) had its price target increased by Barclays from $20.00 to $27.00 in a report released on Friday, The Fly reports. They currently have an overweight rating on the apparel retailer’s stock.

Other equities analysts have also issued reports about the company. Morgan Stanley upped their target price on The Gap from $16.00 to $17.00 and gave the company an equal weight rating in a report on Wednesday, October 14th. B. Riley upped their price target on shares of The Gap from $10.00 to $15.00 in a report on Tuesday, August 18th. Wells Fargo & Company upped their price target on shares of The Gap from $19.00 to $28.00 and gave the stock an overweight rating in a report on Friday, August 28th. Deutsche Bank Aktiengesellschaft increased their target price on The Gap from $19.00 to $21.00 and gave the company a hold rating in a research note on Friday, October 9th. Finally, MKM Partners increased their target price on The Gap from $12.00 to $19.00 in a research note on Monday, August 31st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The Gap currently has an average rating of Hold and a consensus price target of $19.37.

Shares of NYSE:GPS opened at $20.60 on Friday. The Gap has a 1 year low of $5.26 and a 1 year high of $21.65. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of -7.36 and a beta of 1.58. The business’s 50-day moving average is $18.18 and its 200-day moving average is $13.07. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.46 and a quick ratio of 0.85.

The Gap (NYSE:GPS) last issued its quarterly earnings data on Thursday, August 27th. The apparel retailer reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.24. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates 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 for the quarter was down 18.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. Analysts anticipate that The Gap will post -2.01 EPS for the current year.

In other The Gap news, CEO Sonia Syngal sold 36,830 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $17.58, for a total transaction of $647,471.40. Following the transaction, the chief executive officer now owns 57,085 shares in the company, valued at approximately $1,003,554.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julie Gruber sold 29,109 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $14.98, for a total transaction of $436,052.82. The disclosure for this sale can be found here. 45.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in GPS. FMR LLC lifted its holdings in The Gap by 1,723.2% during 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 in the last quarter. Geode Capital Management LLC raised its stake in The Gap by 2.7% during the first quarter. Geode Capital Management LLC now owns 3,482,065 shares of the apparel retailer’s stock worth $24,468,000 after purchasing an additional 92,300 shares during the period. Two Sigma Advisers LP increased its position in shares of The Gap by 790.1% during the first quarter. Two Sigma Advisers LP now owns 317,761 shares of the apparel retailer’s stock valued at $2,237,000 after acquiring an additional 282,061 shares during the last quarter. United Capital Financial Advisers LLC acquired a new stake in shares of The Gap during the first quarter valued at about $403,000. Finally, Squarepoint Ops LLC acquired a new position in shares of The Gap in the first quarter valued at approximately $211,000. Institutional investors own 57.25% of the company’s stock.

The 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, 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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