Gap, Inc. (The) (NYSE:GPS) has been given a $23.00 price objective by investment analysts at BMO Capital Markets in a note issued to investors on Thursday, July 6th. The brokerage presently has a “hold” rating on the apparel retailer’s stock. BMO Capital Markets’ price objective would suggest a potential downside of 2.00% from the stock’s previous close.
GPS has been the topic of a number of other research reports. Jefferies Group LLC set a $34.00 price target on Gap, Inc. (The) and gave the stock a “buy” rating in a report on Thursday, May 4th. Guggenheim initiated coverage on Gap, Inc. (The) in a report on Thursday, March 9th. They set a “neutral” rating on the stock. Vetr lowered Gap, Inc. (The) from a “buy” rating to a “hold” rating and set a $24.84 price target on the stock. in a report on Thursday, April 20th. Wells Fargo & Company reissued a “market perform” rating and set a $25.50 price target (up previously from $24.50) on shares of Gap, Inc. (The) in a report on Friday, March 17th. Finally, Morgan Stanley reissued an “underperform” rating and set a $20.00 price target on shares of Gap, Inc. (The) in a report on Monday, May 22nd. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and seven have assigned a buy rating to the stock. Gap, Inc. (The) presently has an average rating of “Hold” and a consensus target price of $25.78.
Shares of Gap, Inc. (GPS) traded up 1.45% during trading on Thursday, hitting $23.81. The stock had a trading volume of 1,768,448 shares. The stock’s 50-day moving average is $22.87 and its 200-day moving average is $23.73. Gap, Inc. has a 12-month low of $21.02 and a 12-month high of $30.74. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 13.76 and a beta of 0.87.
Gap, Inc. (The) (NYSE:GPS) last issued its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. Gap, Inc. (The) had a return on equity of 29.75% and a net margin of 4.46%. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the company posted $0.32 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities research analysts expect that Gap, Inc. will post $2.00 EPS for the current year.
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In other Gap, Inc. (The) news, CEO Jeff Kirwan sold 5,000 shares of Gap, Inc. (The) stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $24.88, for a total value of $124,400.00. Following the completion of the sale, the chief executive officer now directly owns 29,548 shares of the company’s stock, valued at approximately $735,154.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 8,000 shares of company stock valued at $192,960 over the last ninety days. 27.30% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in GPS. BlackRock Inc. boosted its stake in shares of Gap, Inc. (The) by 4,968.6% in the first quarter. BlackRock Inc. now owns 22,738,113 shares of the apparel retailer’s stock valued at $552,308,000 after buying an additional 22,289,507 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Gap, Inc. (The) by 8.8% in the first quarter. Vanguard Group Inc. now owns 23,100,485 shares of the apparel retailer’s stock valued at $561,111,000 after buying an additional 1,876,653 shares in the last quarter. Norges Bank bought a new stake in shares of Gap, Inc. (The) during the fourth quarter valued at about $33,632,000. Prudential Financial Inc. boosted its stake in shares of Gap, Inc. (The) by 161.2% in the first quarter. Prudential Financial Inc. now owns 1,257,992 shares of the apparel retailer’s stock valued at $30,556,000 after buying an additional 776,400 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. boosted its stake in shares of Gap, Inc. (The) by 36.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,605,366 shares of the apparel retailer’s stock valued at $57,291,000 after buying an additional 697,881 shares in the last quarter. 56.38% of the stock is owned by institutional investors.
About Gap, Inc. (The)
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
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