The Gap Stock Rating Upgraded by Canaccord Genuity (GPS)
The Gap (NYSE:GPS) was upgraded by equities researchers at Canaccord Genuity to a “buy” rating in a research report issued on Tuesday. The firm currently has a $51.00 target price on the stock, up from their previous target price of $47.00. Canaccord Genuity’s target price indicates a potential upside of 23.67% from the stock’s previous close.
GPS has been the subject of a number of other recent research reports. Analysts at Wedbush initiated coverage on shares of The Gap in a research note on Wednesday, June 4th. They set a “neutral” rating and a $44.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of The Gap in a research note on Friday, April 11th. They now have a $41.00 price target on the stock. Finally, analysts at Telsey Advisory Group cut their price target on shares of The Gap from $50.00 to $46.00 in a research note on Friday, April 11th. They now have a “not rated” rating on the stock. Fifteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $43.29.
The Gap (NYSE:GPS) traded up 0.54% during mid-day trading on Tuesday, hitting $41.24. 2,076,777 shares of the company’s stock traded hands. The Gap has a one year low of $36.13 and a one year high of $46.56. The stock has a 50-day moving average of $40.69 and a 200-day moving average of $40.19. The company has a market cap of $18.175 billion and a price-to-earnings ratio of 15.70.
The Gap (NYSE:GPS) last released its earnings data on Thursday, May 22nd. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.57 by $0.01. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue was down 99.9% on a year-over-year basis. Analysts expect that The Gap will post $2.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 30th. Investors of record on Wednesday, July 9th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Monday, July 7th.
In other The Gap news, Director Robert J. Fisher unloaded 47,336 shares of The Gap stock on the open market in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $41.01, for a total value of $1,941,249.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
The Gap, Inc (NYSE:GPS),is a global specialty apparel company.
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