Gap Inc. (GPS) Upgraded at Vetr Inc.
Gap Inc. (NYSE:GPS) was upgraded by Vetr from a “sell” rating to a “hold” rating in a report issued on Tuesday. The brokerage presently has a $25.80 price objective on the apparel retailer’s stock. Vetr‘s target price indicates a potential downside of 2.35% from the company’s current price.
GPS has been the subject of a number of other research reports. Jefferies Group restated a “buy” rating on shares of Gap in a research report on Monday, August 29th. Canaccord Genuity restated a “buy” rating on shares of Gap in a research report on Wednesday, August 17th. Stifel Nicolaus restated a “hold” rating on shares of Gap in a research report on Friday, August 19th. Deutsche Bank AG dropped their price target on Gap from $19.00 to $18.00 and set a “sell” rating for the company in a research report on Friday, August 19th. Finally, FBR & Co reaffirmed a “hold” rating and set a $22.00 price objective on shares of Gap in a research note on Friday. Six equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $25.17.
Shares of Gap (NYSE:GPS) opened at 26.42 on Tuesday. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 14.88 and a beta of 1.28. The firm’s 50-day moving average is $23.86 and its 200-day moving average is $22.94. Gap has a 52 week low of $17.00 and a 52 week high of $30.49.
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 analysts’ consensus estimates of $0.59 by $0.01. Gap had a return on equity of 33.26% and a net margin of 4.60%. The business earned $3.85 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Gap will post ($0.01) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Monday, October 3rd. Gap’s dividend payout ratio (DPR) is presently 51.98%.
Large investors have recently made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of Gap by 4.2% in the first quarter. Legal & General Group Plc now owns 1,119,779 shares of the apparel retailer’s stock worth $32,922,000 after buying an additional 45,600 shares during the period. Candriam Luxembourg S.C.A. raised its stake in shares of Gap by 233.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 570,237 shares of the apparel retailer’s stock worth $12,101,000 after buying an additional 399,449 shares during the period. PGGM Investments raised its stake in shares of Gap by 79.7% in the second quarter. PGGM Investments now owns 1,695,205 shares of the apparel retailer’s stock worth $35,972,000 after buying an additional 751,688 shares during the period. Babson Capital Management LLC raised its stake in shares of Gap by 200.8% in the first quarter. Babson Capital Management LLC now owns 75,195 shares of the apparel retailer’s stock worth $2,211,000 after buying an additional 50,200 shares during the period. Finally, Beddow Capital Management Inc. bought a new stake in shares of Gap during the first quarter worth about $226,000. 57.42% of the stock is currently owned by institutional investors.
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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