Gap PT Lowered to $36.00 (GPS)
Equities researchers at Sterne Agee reduced their price target on shares of Gap (NYSE:GPS) from $38.00 to $36.00 in a research report issued on Friday, Analyst Ratings.Net reports. The firm currently has an “underperform” rating on the stock. Sterne Agee’s price objective points to a potential downside of 2.25% from the stock’s previous close.
Shares of Gap (NYSE:GPS) traded down 6.71% during mid-day trading on Friday, hitting $36.83. 17,694,636 shares of the company’s stock traded hands. Gap has a 52-week low of $29.84 and a 52-week high of $46.56. The stock’s 50-day moving average is $40.89 and its 200-day moving average is $41.01. The company has a market cap of $17.218 billion and a price-to-earnings ratio of 14.55. Gap also was the recipient of some unusual options trading on Thursday. Traders purchased 20,409 put options on the stock. This is an increase of 576% compared to the typical daily volume of 3,020 put options.
Gap (NYSE:GPS) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.64 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.64. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the company posted $0.49 earnings per share. Gap’s revenue was up 8.1% compared to the same quarter last year. Analysts expect that Gap will post $2.76 EPS for the current fiscal year.
A number of other firms have also recently commented on GPS. Analysts at Nomura reiterated a “neutral” rating on shares of Gap in a research note to investors on Friday. They now have a $40.00 price target on the stock, down previously from $42.00. Separately, analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Gap in a research note to investors on Friday. Finally, analysts at Janney Montgomery Scott cut their price target on shares of Gap from $51.00 to $43.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the company’s stock. Gap currently has a consensus rating of “Hold” and an average target price of $45.14.
The Gap, Inc (NYSE:GPS) is a global specialty apparel company.
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