Credit Suisse Group Lowers GAP (NYSE:GPS) Price Target to $20.00

GAP (NYSE:GPS) had its target price cut by Credit Suisse Group from $31.00 to $20.00 in a research note published on Wednesday morning, The Fly reports. They currently have a neutral rating on the apparel retailer’s stock.

GPS has been the subject of a number of other research reports. Citigroup cut their price target on shares of GAP from $32.00 to $25.00 and set a neutral rating for the company in a report on Friday, October 22nd. Bank of America upped their price target on shares of GAP from $32.00 to $40.00 and gave the stock a neutral rating in a report on Friday, August 27th. Telsey Advisory Group cut their price target on shares of GAP from $33.00 to $24.00 and set a market perform rating for the company in a report on Wednesday. Wells Fargo & Company lowered their price objective on shares of GAP from $40.00 to $25.00 and set an overweight rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group lowered their price objective on shares of GAP from $33.00 to $29.00 and set a neutral rating for the company in a research report on Wednesday. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $26.53.

NYSE GPS opened at $17.84 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.70 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $6.71 billion, a P/E ratio of 9.10, a P/E/G ratio of 0.92 and a beta of 1.67. GAP has a 12-month low of $17.71 and a 12-month high of $37.63. The firm has a 50-day moving average price of $23.56 and a two-hundred day moving average price of $27.95.

GAP (NYSE:GPS) last issued its quarterly earnings results on Monday, November 22nd. The apparel retailer reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.23). GAP had a return on equity of 24.45% and a net margin of 4.53%. The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the company posted $0.25 EPS. The business’s revenue was down 1.3% on a year-over-year basis. Equities analysts expect that GAP will post 2.19 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 26th. Stockholders of record on Wednesday, January 5th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Tuesday, January 4th. GAP’s dividend payout ratio (DPR) is presently 24.49%.

In other news, CEO Sonia Syngal sold 6,945 shares of the stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $24.71, for a total transaction of $171,610.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 41.39% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Handelsbanken Fonder AB lifted its stake in shares of GAP by 12.0% in the second quarter. Handelsbanken Fonder AB now owns 54,900 shares of the apparel retailer’s stock valued at $1,847,000 after buying an additional 5,900 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of GAP by 14.9% in the second quarter. Public Employees Retirement System of Ohio now owns 120,708 shares of the apparel retailer’s stock valued at $4,062,000 after buying an additional 15,626 shares in the last quarter. Fiduciary Trust Co. bought a new position in shares of GAP in the first quarter valued at $222,000. Russell Investments Group Ltd. lifted its stake in shares of GAP by 376.7% in the second quarter. Russell Investments Group Ltd. now owns 735,942 shares of the apparel retailer’s stock valued at $24,761,000 after buying an additional 581,571 shares in the last quarter. Finally, KB Financial Partners LLC lifted its stake in shares of GAP by 7.6% in the second quarter. KB Financial Partners LLC now owns 11,564 shares of the apparel retailer’s stock valued at $389,000 after buying an additional 818 shares in the last quarter. 54.90% of the stock is currently owned by institutional investors and hedge funds.

GAP Company Profile

Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.

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