Gap’s (GPS) Sell Rating Reaffirmed at Bank of America Corp.
Several other research analysts have also recently issued reports on the stock. Vetr cut shares of Gap from a hold rating to a sell rating and set a $27.64 target price on the stock. in a report on Monday, November 14th. Jefferies Group restated a buy rating on shares of Gap in a report on Monday, August 29th. Wells Fargo & Co. restated a market perform rating and issued a $26.00 price target (up from $21.00) on shares of Gap in a report on Tuesday, July 26th. Credit Suisse Group AG restated an underperform rating and issued a $22.00 price target (up from $21.00) on shares of Gap in a report on Friday, August 19th. Finally, Wolfe Research upgraded shares of Gap from a peer perform rating to an outperform rating and set a $30.00 price target on the stock in a report on Monday, July 25th. Five equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $24.90.
Shares of Gap (NYSE:GPS) traded down 0.215% during midday trading on Friday, reaching $25.555. 3,331,828 shares of the company’s stock traded hands. The company has a market capitalization of $10.20 billion, a PE ratio of 15.211 and a beta of 1.06. Gap has a 52 week low of $17.00 and a 52 week high of $30.74. The stock’s 50 day moving average is $26.49 and its 200-day moving average is $23.34.
Gap (NYSE:GPS) last posted its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $0.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.74 billion. Gap had a net margin of 4.33% and a return on equity of 32.19%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 EPS. On average, analysts forecast that Gap will post $2.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 4th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, December 30th. Gap’s dividend payout ratio is currently 55.09%.
Institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Capital Management Holdings LLC. raised its position in Gap by 520.6% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 942,678 shares of the apparel retailer’s stock valued at $20,964,000 after buying an additional 790,790 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Gap during the third quarter valued at $1,557,000. Xact Kapitalforvaltning AB purchased a new position in Gap during the third quarter valued at $551,000. 1832 Asset Management L.P. purchased a new position in Gap during the third quarter valued at $1,238,000. Finally, Highbridge Capital Management LLC purchased a new position in Gap during the third quarter valued at $409,000. 58.77% of the stock is currently owned by institutional investors and hedge funds.
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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