Gap Inc. (GPS) Rating Reiterated by Jefferies Group
Gap Inc. (NYSE:GPS)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group in a research report issued on Monday. They currently have a $32.00 price objective on the apparel retailer’s stock. Jefferies Group’s target price would indicate a potential upside of 23.50% from the stock’s current price.
Other equities analysts have also recently issued reports about the company. Oppenheimer Holdings Inc. reaffirmed a “” rating and issued a $20.00 price target on shares of Gap in a research note on Monday, August 22nd. Vetr cut Gap from a “strong-buy” rating to a “buy” rating and set a $23.68 price target on the stock. in a research note on Thursday, June 30th. Canaccord Genuity reaffirmed a “buy” rating on shares of Gap in a research note on Wednesday, August 17th. Zacks Investment Research raised Gap from a “strong sell” rating to a “hold” rating in a research note on Monday, July 11th. Finally, MKM Partners reaffirmed a “hold” rating and issued a $21.00 price target 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 issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $25.29.
Gap (NYSE:GPS) opened at 25.91 on Monday. The stock’s 50 day moving average price is $23.82 and its 200-day moving average price is $22.86. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 14.60 and a beta of 1.28. Gap has a 12 month low of $17.00 and a 12 month high of $30.49.
Gap (NYSE:GPS) last announced its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.01. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $0.64 EPS. Equities analysts anticipate that Gap will post $1.92 EPS for the current fiscal year.
The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Monday, October 3rd. Gap’s payout ratio is presently 51.98%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC bought a new position in shares of Gap during the first quarter worth approximately $308,000. Envestnet Asset Management Inc. increased its position in shares of Gap by 20.2% in the first quarter. Envestnet Asset Management Inc. now owns 42,361 shares of the apparel retailer’s stock worth $1,245,000 after buying an additional 7,125 shares during the last quarter. Legal & General Group Plc increased its position 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 last quarter. Summit Street Capital Management LLC increased 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 last quarter. Finally, AXA increased 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. 57.42% of the stock is currently owned by hedge funds and other 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.
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