GAP (NYSE:GPS) received a $37.00 target price from Jefferies Financial Group in a research note issued to investors on Friday, TipRanks reports. The firm presently has a “buy” rating on the apparel retailer’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 92.31% from the company’s previous close.
Several other analysts have also issued reports on GPS. Royal Bank of Canada set a $22.00 target price on GAP and gave the stock a “hold” rating in a research note on Friday, May 31st. Guggenheim reaffirmed a “hold” rating on shares of GAP in a research note on Thursday. TheStreet lowered GAP from a “b-” rating to a “c+” rating in a research note on Thursday, June 13th. Telsey Advisory Group upped their target price on GAP from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Bank of America set a $14.00 price objective on GAP and gave the company a “sell” rating in a research note on Friday, August 23rd. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. GAP presently has a consensus rating of “Hold” and an average target price of $23.83.
GPS traded up $0.06 during midday trading on Friday, hitting $19.24. The stock had a trading volume of 5,431,397 shares, compared to its average volume of 9,199,438. The company has a market cap of $7.21 billion, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 1.03 and a beta of 0.71. The business has a fifty day moving average of $17.34 and a 200 day moving average of $21.29. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.72 and a current ratio of 1.46. GAP has a 1 year low of $15.11 and a 1 year high of $31.39.
GAP (NYSE:GPS) last issued its earnings results on Thursday, August 22nd. The apparel retailer reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.11. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.02 billion. GAP had a return on equity of 24.53% and a net margin of 5.71%. GAP’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. On average, equities research analysts anticipate that GAP will post 2.06 earnings per share for the current year.
In other news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $18.00, for a total transaction of $291,294.00. Following the completion of the sale, the chief executive officer now owns 32,500 shares of the company’s stock, valued at $585,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 37.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of GAP by 0.7% during the second quarter. Vanguard Group Inc. now owns 28,829,631 shares of the apparel retailer’s stock valued at $518,068,000 after acquiring an additional 210,846 shares in the last quarter. BlackRock Inc. raised its holdings in shares of GAP by 6.9% during the second quarter. BlackRock Inc. now owns 21,828,899 shares of the apparel retailer’s stock valued at $392,265,000 after acquiring an additional 1,415,944 shares in the last quarter. Invesco Ltd. raised its holdings in shares of GAP by 14.0% during the second quarter. Invesco Ltd. now owns 7,517,993 shares of the apparel retailer’s stock valued at $135,098,000 after acquiring an additional 922,167 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of GAP by 43.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,053,569 shares of the apparel retailer’s stock valued at $54,873,000 after acquiring an additional 923,316 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of GAP by 17.3% during the second quarter. Wells Fargo & Company MN now owns 2,312,790 shares of the apparel retailer’s stock valued at $41,561,000 after acquiring an additional 341,672 shares in the last quarter. Institutional investors own 59.93% of the company’s stock.
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, and Hill City brands. Its products include denim, tees, button-downs, 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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