GAP (NYSE:GPS – Get Rating) was upgraded by stock analysts at Citigroup from a “sell” rating to a “neutral” rating in a research note issued to investors on Friday, Briefing.com reports. The firm presently has a $8.00 price target on the apparel retailer’s stock, down from their prior price target of $10.00. Citigroup’s price objective would suggest a potential downside of 1.36% from the company’s current price.
A number of other equities analysts also recently commented on the company. StockNews.com started coverage on GAP in a report on Thursday. They issued a “hold” rating on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $15.00 price objective on shares of GAP in a report on Monday, March 6th. Jefferies Financial Group decreased their target price on GAP from $11.00 to $9.00 in a research report on Tuesday, May 9th. The Goldman Sachs Group decreased their target price on GAP from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, March 10th. Finally, JPMorgan Chase & Co. upped their target price on GAP from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Friday, March 10th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.00.
GAP Price Performance
Shares of GPS opened at $8.11 on Friday. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of -14.75, a P/E/G ratio of 1.12 and a beta of 1.91. GAP has a fifty-two week low of $7.48 and a fifty-two week high of $15.49. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.42 and a quick ratio of 0.68. The business’s 50-day moving average is $9.24 and its 200-day moving average is $11.68.
GAP (NYSE:GPS – Get Rating) last issued its earnings results on Thursday, March 9th. The apparel retailer reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.16). The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.37 billion. GAP had a negative net margin of 1.29% and a negative return on equity of 6.07%. GAP’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) EPS. Equities research analysts expect that GAP will post 0.58 EPS for the current fiscal year.
Insider Activity
In related news, CEO Mark Breitbard sold 7,874 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $9.66, for a total value of $76,062.84. Following the transaction, the chief executive officer now owns 127,442 shares in the company, valued at $1,231,089.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 31,209 shares of company stock worth $282,671. 30.81% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On GAP
Several hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in GAP by 208.4% during the first quarter. Covestor Ltd now owns 6,923 shares of the apparel retailer’s stock worth $97,000 after buying an additional 4,678 shares during the last quarter. Captrust Financial Advisors increased its position in shares of GAP by 12.2% during the 2nd quarter. Captrust Financial Advisors now owns 8,561 shares of the apparel retailer’s stock worth $71,000 after purchasing an additional 930 shares during the last quarter. US Bancorp DE increased its position in shares of GAP by 34.9% during the 1st quarter. US Bancorp DE now owns 12,100 shares of the apparel retailer’s stock worth $170,000 after purchasing an additional 3,132 shares during the last quarter. Citizens Financial Group Inc RI acquired a new position in shares of GAP during the 3rd quarter worth approximately $154,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of GAP during the 3rd quarter worth approximately $290,000. Institutional investors own 57.72% of the company’s stock.
GAP Company Profile
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.
Further Reading
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