Gap Inc. (GPS) Given New $26.00 Price Target at Wedbush
Several other equities analysts also recently weighed in on the stock. Citigroup Inc. downgraded shares of Gap from a neutral rating to a sell rating and reduced their target price for the stock from $27.00 to $25.00 in a research note on Friday. Mizuho boosted their price objective on shares of Gap from $26.00 to $28.00 and gave the company a neutral rating in a research note on Friday. Jefferies Group set a $36.00 price objective on shares of Gap and gave the company a buy rating in a research note on Wednesday, November 16th. Vetr cut shares of Gap from a hold rating to a sell rating and set a $27.64 price objective for the company. in a research note on Monday, November 14th. Finally, Buckingham Research reaffirmed a neutral rating and set a $25.00 price objective (up previously from $23.00) on shares of Gap in a research note on Thursday, November 10th. Five investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $24.90.
Gap (NYSE:GPS) traded down 0.996% during mid-day trading on Friday, reaching $25.355. 3,773,861 shares of the company’s stock were exchanged. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of 15.092 and a beta of 1.06. Gap has a 52-week low of $17.00 and a 52-week high of $30.74. The company has a 50-day moving average of $26.49 and a 200-day moving average of $23.34.
Gap (NYSE:GPS) last posted its quarterly earnings data on Thursday, November 17th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. Gap had a net margin of 4.33% and a return on equity of 32.19%. The business earned $3.80 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that Gap will post $2.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Friday, December 30th. Gap’s dividend payout ratio is 55.09%.
A number of large investors have recently added to or reduced their stakes in GPS. Blair William & Co. IL raised its stake in Gap by 0.5% in the second quarter. Blair William & Co. IL now owns 18,164 shares of the apparel retailer’s stock valued at $385,000 after buying an additional 84 shares in the last quarter. Cypress Capital Group raised its stake in shares of Gap by 0.9% in the first quarter. Cypress Capital Group now owns 16,426 shares of the apparel retailer’s stock worth $482,000 after buying an additional 148 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Gap by 0.9% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 18,783 shares of the apparel retailer’s stock worth $417,000 after buying an additional 166 shares during the period. Charter Trust Co. raised its stake in shares of Gap by 1.6% in the second quarter. Charter Trust Co. now owns 11,374 shares of the apparel retailer’s stock worth $241,000 after buying an additional 175 shares during the period. Finally, World Asset Management Inc raised its stake in shares of Gap by 0.9% in the third quarter. World Asset Management Inc now owns 25,916 shares of the apparel retailer’s stock worth $576,000 after buying an additional 223 shares during the period. 58.77% of the stock is owned by 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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