GAP (NYSE:GPS) Price Target Cut to $24.00 by Analysts at Telsey Advisory Group

GAP (NYSE:GPS) had its price target lowered by Telsey Advisory Group from $33.00 to $24.00 in a research report report published on Wednesday, Price Targets.com reports. Telsey Advisory Group currently has a market perform rating on the apparel retailer’s stock.

A number of other equities analysts have also commented on the company. Wedbush restated a neutral rating on shares of GAP in a research note on Friday, August 27th. JPMorgan Chase & Co. lowered GAP from an overweight rating to a neutral rating and lowered their price objective for the stock from $39.00 to $22.00 in a research note on Wednesday. TheStreet lowered GAP from a b- rating to a c+ rating in a research note on Thursday, August 19th. Bank of America raised their price objective on GAP from $32.00 to $40.00 and gave the stock a neutral rating in a research note on Friday, August 27th. Finally, Wells Fargo & Company reduced their target price on GAP from $45.00 to $40.00 and set an overweight rating on the stock in a report on Friday, October 15th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $26.53.

Shares of NYSE GPS opened at $17.84 on Wednesday. The firm has a market cap of $6.71 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 0.92 and a beta of 1.67. The company has a current ratio of 1.70, a quick ratio of 1.07 and a debt-to-equity ratio of 0.74. GAP has a 1-year low of $17.71 and a 1-year high of $37.63. The business’s 50 day moving average is $23.56 and its 200-day moving average is $27.95.

GAP (NYSE:GPS) last announced its earnings results on Monday, November 22nd. The apparel retailer reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.23). GAP had a return on equity of 24.45% and a net margin of 4.53%. The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter last year, the business posted $0.25 EPS. GAP’s revenue for the quarter was down 1.3% on a year-over-year basis. Analysts forecast that GAP will post 2.19 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 26th. Shareholders of record on Wednesday, January 5th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Tuesday, January 4th. GAP’s payout ratio is presently 24.49%.

In other GAP news, CEO Sonia Syngal sold 6,945 shares of GAP stock in a transaction dated Tuesday, November 16th. The stock was sold at an average price of $24.71, for a total transaction of $171,610.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 41.39% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of GAP by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,753,327 shares of the apparel retailer’s stock worth $85,061,000 after acquiring an additional 190,085 shares in the last quarter. Carmignac Gestion raised its position in shares of GAP by 25.4% in the 3rd quarter. Carmignac Gestion now owns 3,291,252 shares of the apparel retailer’s stock worth $74,718,000 after acquiring an additional 666,301 shares in the last quarter. Marshall Wace LLP raised its position in shares of GAP by 63.3% in the 2nd quarter. Marshall Wace LLP now owns 2,189,402 shares of the apparel retailer’s stock worth $73,673,000 after acquiring an additional 848,404 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of GAP by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,774,210 shares of the apparel retailer’s stock worth $40,274,000 after acquiring an additional 32,404 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of GAP by 74.5% in the 3rd quarter. SG Americas Securities LLC now owns 1,047,636 shares of the apparel retailer’s stock worth $23,781,000 after acquiring an additional 447,438 shares in the last quarter. 54.90% of the stock is owned by hedge funds and other institutional investors.

About GAP

Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.

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Analyst Recommendations for GAP (NYSE:GPS)

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