GAP (NYSE:GPS – Get Rating) had its target price reduced by research analysts at The Goldman Sachs Group from $9.00 to $8.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the apparel retailer’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 1.52% from the stock’s current price.
GPS has been the topic of a number of other reports. Cowen decreased their target price on GAP from $16.00 to $12.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 31st. StockNews.com downgraded GAP from a “hold” rating to a “sell” rating in a research report on Monday, May 30th. Robert W. Baird decreased their target price on GAP from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, May 27th. Bank of America cut their price target on GAP from $9.60 to $8.00 and set an “underperform” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. cut GAP from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $11.00 to $9.00 in a report on Friday, May 27th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.70.
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GPS traded down $0.44 during trading on Wednesday, reaching $7.88. 292,903 shares of the stock were exchanged, compared to its average volume of 8,103,248. The business’s 50 day moving average price is $10.34 and its two-hundred day moving average price is $13.64. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.44 and a quick ratio of 0.53. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of -38.10, a P/E/G ratio of 1.80 and a beta of 1.73. GAP has a 1 year low of $8.16 and a 1 year high of $32.49.
GAP (NYSE:GPS – Get Rating) last posted its earnings results on Thursday, May 26th. The apparel retailer reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.31). The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.49 billion. GAP had a positive return on equity of 7.43% and a negative net margin of 0.45%. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 earnings per share. On average, analysts anticipate that GAP will post 0.41 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Counterpoint Mutual Funds LLC acquired a new position in GAP in the fourth quarter valued at $27,000. CKW Financial Group increased its stake in GAP by 118.2% in the first quarter. CKW Financial Group now owns 2,400 shares of the apparel retailer’s stock valued at $32,000 after purchasing an additional 1,300 shares during the last quarter. Byrne Asset Management LLC increased its stake in GAP by 111.5% during the first quarter. Byrne Asset Management LLC now owns 2,474 shares of the apparel retailer’s stock worth $35,000 after acquiring an additional 1,304 shares during the last quarter. Covestor Ltd acquired a new stake in GAP during the fourth quarter worth about $40,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in GAP during the first quarter worth about $146,000. Hedge funds and other institutional investors own 58.23% of the company’s stock.
About GAP (Get Rating)
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 denim, tees, fleece, and khakis; eyewear, jewelry, shoes, handbags, and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.
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