Gap, Inc. (The) (NYSE:GPS) was upgraded by equities research analysts at Citigroup Inc. from a “sell” rating to a “neutral” rating in a report released on Friday, September 1st, MarketBeat Ratings reports. The firm presently has a $24.00 price objective on the apparel retailer’s stock, up from their previous price objective of $22.00. Citigroup Inc.’s target price suggests a potential downside of 14.26% from the company’s previous close.
GPS has been the subject of several other research reports. Jefferies Group LLC set a $34.00 target price on shares of Gap, Inc. (The) and gave the company a “buy” rating in a research note on Thursday, May 4th. Morgan Stanley reiterated an “underperform” rating and set a $20.00 target price on shares of Gap, Inc. (The) in a research note on Monday, May 22nd. Zacks Investment Research lowered shares of Gap, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. CIBC upgraded shares of Gap, Inc. (The) from a “market perform” rating to an “outperform” rating in a research report on Monday, June 5th. Finally, Instinet restated a “neutral” rating and set a $25.00 price target on shares of Gap, Inc. (The) in a research report on Sunday, August 20th. Three equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $26.01.
Gap, Inc. (NYSE:GPS) opened at 27.99 on Friday. Gap, Inc. has a one year low of $21.02 and a one year high of $30.74. The company has a market cap of $10.98 billion, a P/E ratio of 13.33 and a beta of 0.82. The company has a 50 day moving average of $24.20 and a 200-day moving average of $23.83.
Gap, Inc. (The) (NYSE:GPS) last posted its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Gap, Inc. (The) had a net margin of 5.42% and a return on equity of 28.50%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. On average, equities analysts expect that Gap, Inc. will post $2.06 earnings per share for the current fiscal year.
In other Gap, Inc. (The) news, CEO Sonia Syngal sold 1,935 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $25.79, for a total transaction of $49,903.65. Following the transaction, the chief executive officer now owns 39,656 shares in the company, valued at $1,022,728.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Paul Joseph Chapman sold 4,898 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $22.82, for a total value of $111,772.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,833 shares of company stock worth $231,606. Corporate insiders own 27.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Gap, Inc. (The) in the second quarter valued at approximately $1,142,000. Verition Fund Management LLC boosted its position in shares of Gap, Inc. (The) by 21.9% in the second quarter. Verition Fund Management LLC now owns 23,570 shares of the apparel retailer’s stock valued at $518,000 after acquiring an additional 4,228 shares during the period. Piedmont Investment Advisors LLC boosted its position in shares of Gap, Inc. (The) by 3.6% in the second quarter. Piedmont Investment Advisors LLC now owns 123,135 shares of the apparel retailer’s stock valued at $2,708,000 after acquiring an additional 4,316 shares during the period. Nomura Holdings Inc. bought a new stake in shares of Gap, Inc. (The) in the second quarter valued at approximately $1,376,000. Finally, Sciencast Management LP bought a new stake in shares of Gap, Inc. (The) in the second quarter valued at approximately $605,000. 56.21% of the stock is owned by institutional investors.
Gap, Inc. (The) 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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