Gap, Inc. (The) (NYSE:GPS)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group LLC in a research report issued to clients and investors on Thursday, September 7th. They currently have a $39.00 target price on the apparel retailer’s stock, up from their prior target price of $35.00. Jefferies Group LLC’s price objective suggests a potential upside of 39.34% from the company’s current price.
Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Gap, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Citigroup Inc. raised shares of Gap, Inc. (The) from a “sell” rating to a “neutral” rating and upped their price target for the company from $22.00 to $24.00 in a report on Friday, September 1st. Morgan Stanley reissued an “underperform” rating and set a $20.00 price objective 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. Finally, CIBC raised shares of Gap, Inc. (The) from a “market perform” rating to an “outperform” rating in a research report on Monday, June 5th. Three investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.01.
Shares of Gap, Inc. (NYSE:GPS) traded up 0.68% during trading on Thursday, hitting $27.99. The stock had a trading volume of 5,071,092 shares. Gap, Inc. has a one year low of $21.02 and a one year high of $30.74. The stock’s 50 day moving average price is $24.20 and its 200-day moving average price is $23.83. The stock has a market cap of $10.98 billion, a P/E ratio of 13.33 and a beta of 0.82.
Gap, Inc. (The) (NYSE:GPS) last released its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.06. Gap, Inc. (The) had a net margin of 5.42% and a return on equity of 28.50%. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the company earned $0.60 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts expect that Gap, Inc. will post $2.06 earnings per share for the current fiscal year.
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In other 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 value of $49,903.65. Following the completion of the sale, the chief executive officer now owns 39,656 shares of the company’s stock, valued at approximately $1,022,728.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 three months, insiders sold 9,833 shares of company stock valued at $231,606. 27.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPS. Ffcm LLC lifted its holdings in Gap, Inc. (The) by 198.0% during the 2nd quarter. Ffcm LLC now owns 5,296 shares of the apparel retailer’s stock valued at $121,000 after purchasing an additional 3,519 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Gap, Inc. (The) during the 1st quarter valued at $127,000. James Investment Research Inc. acquired a new stake in Gap, Inc. (The) during the 2nd quarter valued at $144,000. Penserra Capital Management LLC lifted its holdings in Gap, Inc. (The) by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 5,980 shares of the apparel retailer’s stock valued at $145,000 after purchasing an additional 520 shares during the last quarter. Finally, Yorktown Management & Research Co Inc acquired a new stake in Gap, Inc. (The) during the 1st quarter valued at $211,000. 56.21% of the stock is owned by institutional investors.
About Gap, Inc. (The)
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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