Gap Inc. (GPS) Upgraded to Buy by Vetr Inc.
Vetr upgraded shares of Gap Inc. (NYSE:GPS) from a hold rating to a buy rating in a research report sent to investors on Monday morning. The firm currently has $26.76 target price on the apparel retailer’s stock.
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Gap from a buy rating to a hold rating in a report on Tuesday, November 22nd. Deutsche Bank AG reaffirmed a hold rating and issued a $23.00 price target (down previously from $25.00) on shares of Gap in a report on Monday, November 21st. BMO Capital Markets reaffirmed a hold rating on shares of Gap in a report on Saturday, November 19th. Cowen and Company set a $25.00 price target on shares of Gap and gave the stock a hold rating in a report on Saturday, November 19th. Finally, Bank of America Corp. reaffirmed a sell rating on shares of Gap in a report on Friday, November 18th. Four equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and four have given a buy rating to the stock. Gap presently has a consensus rating of Hold and an average target price of $24.84.
Shares of Gap (NYSE:GPS) opened at 25.48 on Monday. Gap has a 1-year low of $17.00 and a 1-year high of $30.74. The firm’s 50-day moving average price is $26.98 and its 200 day moving average price is $23.57. The company has a market capitalization of $10.17 billion, a PE ratio of 15.17 and a beta of 1.06.
Gap (NYSE:GPS) last posted its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $0.60 EPS for the quarter, hitting analysts’ consensus estimates of $0.60. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Gap had a net margin of 4.33% and a return on equity of 32.19%. Gap’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. Equities analysts predict that Gap will post $1.94 EPS for the current fiscal year.
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The firm 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 $0.23 dividend. The ex-dividend date of this dividend is Friday, December 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.61%. Gap’s dividend payout ratio is currently 55.09%.
In other news, President Jeff Kirwan sold 11,406 shares of Gap 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 transaction, the president now owns 19,094 shares of the company’s stock, valued at approximately $484,605.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paul Joseph Chapman sold 6,764 shares of Gap stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $24.99, for a total transaction of $169,032.36. The disclosure for this sale can be found here. 30.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of GPS. Pacer Advisors Inc. increased its position in shares of 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 last quarter. Advisory Services Network LLC increased its position in shares of 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 last quarter. Americafirst Capital Management LLC purchased a new position in shares of Gap during the second quarter worth about $139,000. Toronto Dominion Bank increased its position in shares of 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 last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Gap during the third quarter worth about $161,000. 58.00% of the stock is currently owned by hedge funds and other 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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