Gap’s (GPS) Hold Rating Reaffirmed at Deutsche Bank AG
Gap Inc. (NYSE:GPS)‘s stock had its “hold” rating reissued by Deutsche Bank AG in a note issued to investors on Monday. They presently have a $23.00 price target on the apparel retailer’s stock, down from their prior price target of $25.00. Deutsche Bank AG’s price objective would indicate a potential downside of 7.96% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. Oppenheimer Holdings Inc. restated a “” rating and issued a $20.00 price objective on shares of Gap in a research report on Monday, August 22nd. Jefferies Group raised their price objective on shares of Gap to $36.00 in a research report on Friday. Vetr downgraded shares of Gap from a “strong-buy” rating to a “buy” rating and set a $27.03 price objective for the company. in a research report on Friday, August 12th. Canaccord Genuity restated a “buy” rating on shares of Gap in a research report on Wednesday, August 17th. Finally, KeyCorp restated a “buy” rating and issued a $33.00 price objective on shares of Gap in a research report on Tuesday, November 8th. Five analysts have rated the stock with a sell rating, twenty-four have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $24.87.
Gap (NYSE:GPS) traded down 2.42% during mid-day trading on Monday, hitting $24.99. The stock had a trading volume of 11,807,856 shares. The stock has a market cap of $9.97 billion, a P/E ratio of 14.88 and a beta of 1.06. Gap has a 52-week low of $17.00 and a 52-week high of $30.74. The firm has a 50-day moving average of $26.49 and a 200-day moving average of $23.34.
Gap (NYSE:GPS) last announced its earnings results on Thursday, November 17th. The apparel retailer reported $0.60 earnings per share for the quarter, hitting the consensus estimate 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 in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, analysts forecast that Gap will post $2.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 4th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, December 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.68%. Gap’s dividend payout ratio is currently 55.09%.
Large investors have recently added to or reduced their stakes in the stock. World Asset Management Inc raised its position in Gap by 0.9% in the third quarter. World Asset Management Inc now owns 25,916 shares of the apparel retailer’s stock valued at $576,000 after buying an additional 223 shares in the last quarter. ARGI Investment Services LLC increased its stake in Gap by 8.8% in the second quarter. ARGI Investment Services LLC now owns 38,516 shares of the apparel retailer’s stock valued at $810,000 after buying an additional 3,131 shares in the last quarter. Legal & General Group Plc increased its stake in Gap by 4.2% in the first quarter. Legal & General Group Plc now owns 1,119,779 shares of the apparel retailer’s stock valued at $32,922,000 after buying an additional 45,600 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Gap by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 14,135,669 shares of the apparel retailer’s stock valued at $299,958,000 after buying an additional 251,964 shares in the last quarter. Finally, Commonwealth Bank of Australia increased its stake in Gap by 12.6% in the second quarter. Commonwealth Bank of Australia now owns 273,798 shares of the apparel retailer’s stock valued at $5,810,000 after buying an additional 30,600 shares in the last quarter. Institutional investors and hedge funds own 58.77% 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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