The Gap Lifted to “Buy” at Janney Montgomery Scott (GPS)
The Gap (NYSE:GPS) was upgraded by analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $51.00 price target on the stock, up from their previous price target of $43.00. Janney Montgomery Scott’s target price would indicate a potential upside of 18.11% from the company’s current price.
In other The Gap news, EVP John T. Keiser unloaded 25,000 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $42.50, for a total transaction of $1,062,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
GPS has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Sterne Agee cut their price target on shares of The Gap from $47.00 to $46.00 in a research note on Friday, July 11th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $41.87.
The Gap (NYSE:GPS) opened at 43.18 on Friday. The Gap has a 1-year low of $36.13 and a 1-year high of $44.59. The stock has a 50-day moving average of $40.93 and a 200-day moving average of $40.94. The company has a market cap of $19.030 billion and a P/E ratio of 16.50. The Gap also was the target of some unusual options trading activity on Thursday. Stock investors bought 4,371 put options on the company. This represents an increase of 125% compared to the average daily volume of 1,943 put options.
The Gap (NYSE:GPS) last issued its quarterly 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. Analysts expect that The Gap will post $2.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 29th. Investors of record on Wednesday, October 8th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Monday, October 6th.
The Gap, Inc (NYSE:GPS),is a global specialty apparel company.
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