Gap Inc (NYSE:GPS) Receives $24.17 Average Price Target from Brokerages
Shares of Gap Inc (NYSE:GPS) have received an average recommendation of “Hold” from the nineteen analysts that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $24.17.
Several research firms recently commented on GPS. B. Riley reduced their target price on GAP from $30.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Zacks Investment Research upgraded GAP from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. ValuEngine cut GAP from a “sell” rating to a “strong sell” rating in a research report on Monday, May 13th. MKM Partners reduced their target price on GAP from $33.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. reduced their target price on GAP from $24.00 to $17.00 and set an “underweight” rating for the company in a research report on Friday, May 31st.
In other GAP news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of GAP stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $18.00, for a total transaction of $291,294.00. Following the completion of the sale, the chief executive officer now owns 32,500 shares of the company’s stock, valued at $585,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 37.60% of the company’s stock.
Shares of NYSE GPS traded down $1.38 during mid-day trading on Wednesday, hitting $16.57. The company had a trading volume of 7,541,751 shares, compared to its average volume of 5,769,040. The firm has a market capitalization of $6.73 billion, a P/E ratio of 6.40, a price-to-earnings-growth ratio of 0.97 and a beta of 0.71. GAP has a 1 year low of $16.52 and a 1 year high of $32.98. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.49 and a quick ratio of 0.70. The business’s 50-day simple moving average is $18.34.
GAP (NYSE:GPS) last announced its quarterly earnings results on Thursday, May 30th. The apparel retailer reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.07). The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.78 billion. GAP had a net margin of 6.46% and a return on equity of 26.73%. GAP’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. As a group, research analysts forecast that GAP will post 2.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 5.86%. The ex-dividend date was Tuesday, July 9th. GAP’s dividend payout ratio (DPR) is currently 37.45%.
The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.
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