Gap Inc. (GPS) Rating Reiterated by Jefferies Group
Gap Inc. (NYSE:GPS)‘s stock had its “positive” rating reissued by analysts at Jefferies Group in a research report issued to clients and investors on Monday.
Several other equities research analysts have also issued reports on GPS. Vetr raised shares of Gap from a “buy” rating to a “strong-buy” rating and set a $27.65 price objective for the company in a research note on Tuesday, August 2nd. FBR & Co set a $22.00 price objective on shares of Gap and gave the company a “hold” rating in a research note on Friday, August 5th. Mizuho raised shares of Gap from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $17.00 to $24.00 in a research note on Tuesday, August 9th. Royal Bank Of Canada lifted their price objective on shares of Gap from $20.00 to $23.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 9th. Finally, RBC Capital Markets reaffirmed a “hold” rating and issued a $23.00 price objective (up previously from $20.00) on shares of Gap in a research note on Tuesday, August 9th. Four 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 company. Gap currently has a consensus rating of “Hold” and an average price target of $24.84.
Gap (NYSE:GPS) opened at 25.24 on Monday. The company has a 50 day moving average price of $26.98 and a 200 day moving average price of $23.57. Gap has a 12 month low of $17.00 and a 12 month high of $30.74. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 15.02 and a beta of 1.06.
Gap (NYSE:GPS) last released its quarterly earnings data on Thursday, November 17th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, meeting 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 analyst estimates of $3.74 billion. During the same quarter in the previous year, the business earned $0.63 EPS. Gap’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts predict that Gap will post $1.94 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 4th will be given 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 3.65%. Gap’s payout ratio is 55.09%.
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In other news, EVP Paul Joseph Chapman sold 6,764 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $24.99, for a total transaction of $169,032.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Jeff Kirwan sold 11,406 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $25.38, for a total transaction of $289,484.28. Following the transaction, the president now owns 19,094 shares in the company, valued at $484,605.72. The disclosure for this sale can be found here. Insiders own 30.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in GPS. Skandinaviska Enskilda Banken AB publ raised its position in shares of 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 worth $84,469,000 after buying an additional 3,774,700 shares during the last quarter. Levin Capital Strategies L.P. bought a new position in shares of Gap during the second quarter worth about $53,595,000. Emerald Acquisition Ltd. bought a new position in shares of Gap during the second quarter worth about $36,750,000. Morgan Stanley raised its position in shares of Gap by 459.2% in the third quarter. Morgan Stanley now owns 1,898,797 shares of the apparel retailer’s stock worth $42,229,000 after buying an additional 1,559,268 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Gap during the second quarter worth about $29,343,000. Institutional investors own 58.00% 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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