Gap Inc. (GPS) Given a $20.00 Price Target at Bank of America Corp.
Several other research firms have also recently commented on GPS. Oppenheimer Holdings Inc. reissued a rating and set a $20.00 target price on shares of Gap in a research report on Monday, August 22nd. Vetr cut shares of Gap from a strong-buy rating to a buy rating and set a $23.68 target price on the stock. in a research report on Thursday, June 30th. Jefferies Group reissued a buy rating on shares of Gap in a research report on Saturday, July 9th. Canaccord Genuity reissued a buy rating on shares of Gap in a research report on Wednesday, August 17th. Finally, MKM Partners reissued a hold rating and set a $21.00 target price on shares of Gap in a research report on Saturday, July 9th. Six research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $24.90.
Shares of Gap (NYSE:GPS) traded up 15.255% during midday trading on Thursday, hitting $26.255. The company had a trading volume of 27,245,094 shares. Gap has a 12-month low of $17.00 and a 12-month high of $30.49. The company’s 50-day moving average price is $23.87 and its 200 day moving average price is $23.07. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of 14.792 and a beta of 1.28.
Gap (NYSE:GPS) last announced its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Gap had a net margin of 4.60% and a return on equity of 33.26%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research analysts predict that Gap will post ($0.01) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a $0.23 dividend. The ex-dividend date is Monday, October 3rd. This represents a $0.92 annualized dividend and a dividend yield of 4.04%. Gap’s dividend payout ratio is presently 51.98%.
Several hedge funds and other institutional investors have recently modified their holdings of GPS. Commonwealth Equity Services Inc bought a new position in shares of Gap during the first quarter worth $287,000. Ngam Advisors L.P. increased its position in shares of Gap by 74.6% in the first quarter. Ngam Advisors L.P. now owns 95,198 shares of the apparel retailer’s stock worth $2,799,000 after buying an additional 40,684 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Gap by 10.3% in the first quarter. TIAA CREF Investment Management LLC now owns 1,184,150 shares of the apparel retailer’s stock worth $34,814,000 after buying an additional 110,100 shares during the period. Teachers Advisors Inc. increased its position in shares of Gap by 9.8% in the first quarter. Teachers Advisors Inc. now owns 614,240 shares of the apparel retailer’s stock worth $18,059,000 after buying an additional 54,941 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Gap by 1.8% in the first quarter. Franklin Resources Inc. now owns 5,238,420 shares of the apparel retailer’s stock worth $154,010,000 after buying an additional 94,400 shares during the period. Hedge funds and other institutional investors own 57.42% of the company’s stock.
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.
Receive News & Stock Ratings for Gap Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gap Inc. and related stocks with our FREE daily email newsletter.