Gap Inc. (GPS) Stock Rating Lowered by Vetr Inc.
Gap Inc. (NYSE:GPS) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “sell” rating in a research report issued on Monday. They currently have a $25.20 price target on the apparel retailer’s stock. Vetr‘s target price points to a potential downside of 4.00% from the company’s current price.
GPS has been the topic of several other reports. JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $22.00 price target on shares of Gap in a research report on Friday, August 19th. RBC Capital Markets set a $23.00 target price on Gap and gave the stock a “hold” rating in a research report on Tuesday, September 13th. Nomura lifted their target price on Gap from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, August 19th. 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. Finally, Deutsche Bank AG reissued a “sell” rating on shares of Gap in a research report on Friday, September 2nd. Seven equities research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $25.09.
Shares of Gap (NYSE:GPS) opened at 26.25 on Monday. The firm has a market capitalization of $10.46 billion, a PE ratio of 14.79 and a beta of 1.28. Gap has a 12 month low of $17.00 and a 12 month high of $30.49. The stock’s 50 day moving average price is $23.88 and its 200-day moving average price is $23.05.
Gap (NYSE:GPS) last issued its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.79 billion. Gap had a return on equity of 33.26% and a net margin of 4.60%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. On average, equities analysts anticipate that Gap will post ($0.01) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 3.50%. Gap’s dividend payout ratio (DPR) is currently 51.98%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Summit Street Capital Management LLC raised its position in shares of Gap by 2.8% in the first quarter. Summit Street Capital Management LLC now owns 82,679 shares of the apparel retailer’s stock worth $2,431,000 after buying an additional 2,230 shares during the period. AXA raised its position in shares of Gap by 4.1% in the first quarter. AXA now owns 1,682,660 shares of the apparel retailer’s stock worth $49,470,000 after buying an additional 66,400 shares during the last quarter. Pictet Asset Management Ltd. raised its position in shares of Gap by 1.1% in the first quarter. Pictet Asset Management Ltd. now owns 187,080 shares of the apparel retailer’s stock worth $5,172,000 after buying an additional 2,090 shares during the last quarter. Lazard Asset Management LLC raised 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 during the last quarter. Finally, State Street Corp raised its position 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. Institutional investors and hedge funds own 57.42% of the company’s stock.
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.
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