Janney Montgomery Scott Lowers Gap Price Target to $43.00 (GPS)
Janney Montgomery Scott decreased their price objective on shares of Gap (NYSE:GPS) from $51.00 to $43.00 in a research note issued on Friday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Janney Montgomery Scott’s price target would suggest a potential upside of 8.37% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Gap in a research note to investors on Wednesday, September 18th. They now have a $44.00 price target on the stock. Separately, analysts at Nomura initiated coverage on shares of Gap in a research note to investors on Monday, September 9th. They set a “neutral” rating and a $42.00 price target on the stock. Finally, analysts at Sterne Agee cut their price target on shares of Gap from $40.00 to $38.00 in a research note to investors on Friday, September 6th. They now have an “underperform” rating on the stock. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $45.23.
Gap (NYSE:GPS) traded down 6.48% during mid-day trading on Friday, hitting $36.921. The stock had a trading volume of 7,017,201 shares. 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 $17.261 billion and a price-to-earnings ratio of 14.55. Gap also was the target of unusually large options trading on Thursday. Stock investors acquired 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 announced its earnings results on Thursday, August 22nd. The company reported $0.64 EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts expect that Gap will post $2.76 EPS for the current fiscal year.
The Gap, Inc (NYSE:GPS) is a global specialty apparel company.
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