Mizuho Increases The Gap Price Target to $50.00 (GPS)
Mizuho raised their target price on shares of The Gap (NYSE:GPS) from $48.00 to $50.00 in a research note issued on Friday. The firm currently has a “buy” rating on the stock. Mizuho’s price objective points to a potential upside of 15.79% from the stock’s previous close.
A number of other firms have also recently commented on GPS. Analysts at Janney Montgomery Scott upgraded shares of The Gap from a “neutral” rating to a “buy” rating in a research note on Friday. They now have a $51.00 price target on the stock, up previously from $43.00. Separately, analysts at Credit Suisse initiated coverage on shares of The Gap in a research note on Monday, August 11th. They set a “neutral” rating and a $44.00 price target on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of The Gap from $51.00 to $50.00 in a research note on Friday, July 11th. They now have a “buy” rating on the stock. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The Gap has an average rating of “Hold” and an average target price of $41.87.
Shares of The Gap (NYSE:GPS) opened at 43.18 on Friday. The Gap has a 52-week low of $36.13 and a 52-week high of $44.59. The stock’s 50-day moving average is $40.93 and its 200-day moving average is $40.94. The company has a market cap of $19.030 billion and a price-to-earnings ratio of 16.50. The Gap also was the target of some unusual options trading activity on Thursday. Traders purchased 4,371 put options on the stock. This represents an increase of 125% compared to the average daily volume of 1,943 put options.
The Gap (NYSE:GPS) last released its earnings data on Thursday, August 21st. The company reported $0.74 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.69 by $0.05. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the company posted $0.64 earnings per share. The Gap’s revenue was up 2.9% compared to the same quarter last year. On average, analysts predict that The Gap will post $2.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 29th. Investors of record on Wednesday, October 8th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Monday, October 6th.
In other The Gap news, EVP John T. Keiser sold 25,000 shares of The Gap stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $42.50, for a total transaction of $1,062,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
The Gap, Inc (NYSE:GPS),is a global specialty apparel company.
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