Gap Inc. (GPS) Downgraded by Vetr Inc. to Hold
Gap Inc. (NYSE:GPS) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday. They currently have a $25.82 price objective on the apparel retailer’s stock. Vetr‘s target price points to a potential upside of 1.33% from the company’s previous close.
A number of other research firms have also recently weighed in on GPS. Citigroup Inc. cut Gap from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $27.00 to $25.00 in a report on Friday, November 18th. Jefferies Group increased their price target on Gap to $36.00 in a report on Friday, November 18th. Wedbush increased their price target on Gap from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, November 18th. Mizuho increased their price target on Gap from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, November 18th. Finally, FBR & Co increased their price target on Gap to $28.00 and gave the stock a “hold” rating in a report on Friday, November 18th. Four analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $24.84.
Gap (NYSE:GPS) opened at 25.48 on Tuesday. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of 15.17 and a beta of 1.06. Gap has a 1-year low of $17.00 and a 1-year high of $30.74. The firm has a 50-day moving average price of $26.98 and a 200 day moving average price of $23.57.
Gap (NYSE:GPS) last released its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60. The business earned $3.80 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Gap had a return on equity of 32.19% and a net margin of 4.33%. The company’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 EPS. On average, equities research analysts anticipate that Gap will post $1.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Wednesday, January 4th will be paid a $0.23 dividend. The ex-dividend date is Friday, December 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.61%. Gap’s dividend payout ratio (DPR) is currently 55.09%.
In other news, EVP Paul Joseph Chapman sold 6,764 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $24.99, for a total value of $169,032.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Jeff Kirwan sold 11,406 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $25.38, for a total value of $289,484.28. Following the completion of the sale, the president now directly owns 19,094 shares of the company’s stock, valued at $484,605.72. The disclosure for this sale can be found here. 30.00% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of GPS. Skandinaviska Enskilda Banken AB publ boosted its stake in Gap by 16,151.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 3,798,070 shares of the apparel retailer’s stock valued at $84,469,000 after buying an additional 3,774,700 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in Gap during the second quarter valued at approximately $53,595,000. Emerald Acquisition Ltd. acquired a new stake in Gap during the second quarter valued at approximately $36,750,000. Morgan Stanley boosted its stake in Gap by 459.2% in the third quarter. Morgan Stanley now owns 1,898,797 shares of the apparel retailer’s stock valued at $42,229,000 after buying an additional 1,559,268 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Gap during the second quarter valued at approximately $29,343,000. 58.00% of the stock is 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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