GAP’s (GPS) Market Perform Rating Reiterated at Telsey Advisory Group

GAP (NYSE:GPS)‘s stock had its “market perform” rating restated by stock analysts at Telsey Advisory Group in a report issued on Friday, Benzinga reports. They presently have a $22.00 price target on the apparel retailer’s stock. Telsey Advisory Group’s price target points to a potential upside of 5.44% from the stock’s previous close.

Several other research analysts also recently issued reports on GPS. Wells Fargo & Company upped their price target on shares of GAP from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. The Goldman Sachs Group boosted their price objective on GAP from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Robert W. Baird boosted their price objective on GAP to $23.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Morgan Stanley boosted their price objective on GAP from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. Finally, Evercore ISI boosted their price objective on GAP from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.15.

GAP Stock Up 1.5 %

Shares of NYSE GPS opened at $20.87 on Friday. The firm’s 50-day simple moving average is $23.17 and its 200 day simple moving average is $20.81. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 1.24 and a beta of 2.34. The company has a quick ratio of 0.78, a current ratio of 1.42 and a debt-to-equity ratio of 0.57. GAP has a 12-month low of $7.22 and a 12-month high of $28.59.

GAP (NYSE:GPS) last issued its quarterly earnings results on Thursday, March 7th. The apparel retailer reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.29. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.22 billion. GAP had a net margin of 3.37% and a return on equity of 22.56%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.75) EPS. On average, research analysts expect that GAP will post 1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GAP news, CFO Katrina O’connell sold 9,818 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $27.94, for a total transaction of $274,314.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Sarah Gilligan sold 29,425 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $22.58, for a total value of $664,416.50. Following the completion of the sale, the insider now owns 1,697 shares of the company’s stock, valued at approximately $38,318.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Katrina O’connell sold 9,818 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $27.94, for a total value of $274,314.92. The disclosure for this sale can be found here. Insiders sold a total of 266,723 shares of company stock valued at $6,886,765 in the last quarter. 30.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GAP

Several large investors have recently made changes to their positions in GPS. Plato Investment Management Ltd raised its stake in GAP by 37.2% in the 1st quarter. Plato Investment Management Ltd now owns 1,965 shares of the apparel retailer’s stock valued at $54,000 after acquiring an additional 533 shares during the period. SVB Wealth LLC bought a new stake in GAP in the 1st quarter valued at $207,000. Pinkerton Retirement Specialists LLC raised its stake in GAP by 14.4% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 33,597 shares of the apparel retailer’s stock valued at $926,000 after acquiring an additional 4,240 shares during the period. Central Pacific Bank Trust Division bought a new stake in GAP in the 1st quarter valued at $335,000. Finally, New York State Teachers Retirement System raised its stake in GAP by 2.7% in the 1st quarter. New York State Teachers Retirement System now owns 270,730 shares of the apparel retailer’s stock valued at $7,459,000 after acquiring an additional 7,055 shares during the period. Institutional investors and hedge funds own 58.81% of the company’s stock.

GAP Company Profile

The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.