Gap Inc. (GPS) Receives “Neutral” Rating from Buckingham Research
Gap Inc. (NYSE:GPS)‘s stock had its “neutral” rating reiterated by Buckingham Research in a research report issued to clients and investors on Thursday. They presently have a $25.00 price objective on the apparel retailer’s stock, up from their previous price objective of $23.00. Buckingham Research’s price target indicates a potential downside of 8.79% from the stock’s previous close.
GPS has been the topic of a number of other research reports. Jefferies Group set a $32.00 price objective on Gap and gave the stock a “buy” rating in a research note on Saturday, October 8th. Wolfe Research reissued an “outperform” rating and issued a $33.00 price objective (up previously from $30.00) on shares of Gap in a research note on Tuesday. RBC Capital Markets reissued a “hold” rating and issued a $23.00 price objective (up previously from $20.00) on shares of Gap in a research note on Tuesday, August 9th. Mizuho boosted their price objective on Gap from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Deutsche Bank AG reissued a “sell” rating on shares of Gap in a research note on Friday, September 2nd. Four investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $24.53.
Gap (NYSE:GPS) opened at 27.41 on Thursday. The company’s 50-day moving average price is $25.14 and its 200 day moving average price is $23.05. The stock has a market capitalization of $10.92 billion, a P/E ratio of 15.44 and a beta of 1.06. Gap has a 52-week low of $17.00 and a 52-week high of $30.49.
Gap (NYSE:GPS) last announced its earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. The firm 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 for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. On average, equities research analysts anticipate that Gap will post $1.95 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in GPS. Pacer Advisors Inc. boosted its position in Gap by 11.7% in the second quarter. Pacer Advisors Inc. now owns 5,777 shares of the apparel retailer’s stock worth $123,000 after buying an additional 606 shares during the period. Advisory Services Network LLC boosted its position in Gap by 22.1% in the second quarter. Advisory Services Network LLC now owns 5,869 shares of the apparel retailer’s stock worth $125,000 after buying an additional 1,062 shares during the period. Americafirst Capital Management LLC purchased a new position in Gap during the second quarter worth about $139,000. Toronto Dominion Bank boosted its position in Gap by 362.7% in the third quarter. Toronto Dominion Bank now owns 6,691 shares of the apparel retailer’s stock worth $149,000 after buying an additional 5,245 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in Gap during the third quarter worth about $161,000. Hedge funds and other institutional investors own 57.52% 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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