Gap Inc. (GPS) Upgraded by Deutsche Bank AG to “Hold”
Gap Inc. (NYSE:GPS) was upgraded by equities researchers at Deutsche Bank AG from a “sell” rating to a “hold” rating in a research report issued on Friday.
A number of other equities research analysts have also issued reports on GPS. Wedbush restated a “neutral” rating and set a $20.00 price target on shares of Gap in a report on Wednesday, June 15th. Wolfe Research upgraded shares of Gap from a “market perform” rating to an “outperform” rating in a report on Friday, June 17th. Vetr lowered shares of Gap from a “strong-buy” rating to a “buy” rating and set a $23.14 price target on the stock. in a report on Thursday, June 23rd. FBR & Co restated a “market perform” rating and set a $22.00 price target on shares of Gap in a report on Wednesday, July 6th. Finally, BMO Capital Markets restated a “market perform” rating and set a $20.00 price target on shares of Gap in a report on Thursday, July 7th. Six investment analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $24.94.
Gap (NYSE:GPS) opened at 22.78 on Friday. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 12.83 and a beta of 1.28. Gap has a 12-month low of $17.00 and a 12-month high of $30.49. The company’s 50 day moving average is $23.87 and its 200 day moving average is $23.07.
Gap (NYSE:GPS) last released its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analyst estimates of $3.79 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Gap will post ($0.01) earnings per share for the current year.
The firm also recently disclosed 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Monday, October 3rd. Gap’s dividend payout ratio is 51.98%.
Several institutional investors have recently made changes to their positions in the stock. Levin Capital Strategies L.P. acquired a new position in shares of Gap during the second quarter worth about $53,595,000. Lazard Asset Management LLC boosted its position in shares of Gap by 25,265.6% in the first quarter. Lazard Asset Management LLC now owns 2,020,625 shares of the apparel retailer’s stock worth $59,406,000 after buying an additional 2,012,659 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Gap during the second quarter worth about $36,750,000. Bank of Montreal Can acquired a new position in shares of Gap during the second quarter worth about $29,343,000. Finally, Prudential Financial Inc. boosted its position in shares of Gap by 99.4% in the second quarter. Prudential Financial Inc. now owns 2,432,145 shares of the apparel retailer’s stock worth $51,610,000 after buying an additional 1,212,479 shares in the last quarter. 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.
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