Janney Montgomery Scott Reiterates “Fair Value” Rating for Gap (GPS)
Gap (NYSE:GPS)‘s stock had its “fair value” rating reaffirmed by Janney Montgomery Scott in a research note issued on Friday, AR Network reports. They currently have a $48.00 price objective on the stock, up from their previous price objective of $46.00. Janney Montgomery Scott’s target price indicates a potential upside of 14.29% from the stock’s previous close.
Gap (NYSE:GPS) traded up 5.77% during mid-day trading on Friday, hitting $42.00. The stock had a trading volume of 11,548,629 shares. Gap has a 1-year low of $31.19 and a 1-year high of $46.56. The stock’s 50-day moving average is $38.43 and its 200-day moving average is $40.2. The company has a market cap of $18.857 billion and a price-to-earnings ratio of 14.16.
Gap (NYSE:GPS) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts predict that Gap will post $2.68 earnings per share for the current fiscal year.
GPS has been the subject of a number of other recent research reports. Analysts at UBS AG upgraded shares of Gap from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. They now have a $50.00 price target on the stock, up previously from $41.00. Separately, analysts at Buckingham Research initiated coverage on shares of Gap in a research note to investors on Wednesday, January 29th. They set a “buy” rating and a $51.00 price target on the stock. Finally, analysts at Sterne Agee upgraded shares of Gap from an “underperform” rating to a “buy” rating in a research note to investors on Tuesday, January 21st. They now have a $44.00 price target on the stock, up previously from $38.00. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company. Gap presently has a consensus rating of “Hold” and a consensus price target of $42.79.
The Gap, Inc (NYSE:GPS) is a global specialty apparel company.
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