Gap Inc. (NYSE:GPS) has been given a $20.00 price target by investment analysts at Bank of America Corp. in a research note issued on Thursday. The firm currently has a a “sell” rating on the apparel retailer’s stock. Bank of America Corp.’s price objective indicates a potential downside of 12.20% from the company’s current price.

Several other analysts have also issued reports on GPS. Guggenheim reaffirmed a “hold” rating on shares of Gap in a research note on Saturday, July 9th. MKM Partners reissued a “hold” rating and set a $21.00 price objective on shares of Gap in a research note on Saturday, July 9th. Wedbush reissued a “hold” rating on shares of Gap in a research note on Saturday, July 9th. Jefferies Group reissued a “buy” rating on shares of Gap in a research note on Saturday, July 9th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Gap in a research note on Saturday, July 9th. Six equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.90.

Analyst Recommendations for Gap (NYSE:GPS)

Gap (NYSE:GPS) traded up 14.97% during midday trading on Thursday, reaching $26.19. 26,777,781 shares of the company traded hands. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of 14.75 and a beta of 1.28. The stock’s 50 day moving average is $23.87 and its 200 day moving average is $23.07. Gap has a one year low of $17.00 and a one year high of $30.49.

Gap (NYSE:GPS) last issued its earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The business earned $3.85 billion during the quarter, compared to analyst estimates of $3.79 billion. Gap had a return on equity of 33.26% and a net margin of 4.60%. Gap’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. On average, equities analysts anticipate that Gap will post ($0.01) earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.04%. The ex-dividend date is Monday, October 3rd. Gap’s dividend payout ratio is currently 51.98%.

A number of hedge funds and other institutional investors have recently made changes to their positions in GPS. Vanguard Group Inc. increased its stake in shares of Gap by 2.3% in the second quarter. Vanguard Group Inc. now owns 20,061,541 shares of the apparel retailer’s stock worth $425,706,000 after buying an additional 444,555 shares during the last quarter. American International Group Inc. increased its stake in shares of Gap by 3.5% in the second quarter. American International Group Inc. now owns 14,381,188 shares of the apparel retailer’s stock worth $305,169,000 after buying an additional 483,879 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Gap by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 14,135,669 shares of the apparel retailer’s stock worth $299,958,000 after buying an additional 251,964 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Gap by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 13,531,075 shares of the apparel retailer’s stock worth $287,129,000 after buying an additional 936,648 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Gap by 1.3% in the first quarter. State Street Corp now owns 10,878,900 shares of the apparel retailer’s stock worth $319,845,000 after buying an additional 140,396 shares during the last quarter. 57.42% of the stock is currently owned by institutional investors.

Gap 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.

5 Day Chart for NYSE:GPS

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