The Gap Price Target Increased to $50.00 by Analysts at Canaccord Genuity (GPS)
Canaccord Genuity increased 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. Canaccord Genuity’s price objective would indicate a potential upside of 15.79% from the company’s current price.
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 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 price-to-earnings ratio of 16.53. The Gap also was the recipient of some unusual options trading on Thursday. Stock traders acquired 4,371 put options on the stock. This is an increase of approximately 125% compared to the typical daily volume of 1,943 put options.
The Gap (NYSE:GPS) last posted its quarterly earnings results on Thursday, August 21st. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts predict that The Gap will post $2.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 29th. Shareholders 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.
A number of other firms have also recently commented on GPS. Analysts at Mizuho raised their price target on shares of The Gap from $48.00 to $50.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $41.87.
In other The Gap news, EVP John T. Keiser sold 25,000 shares of the stock on the open market in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $42.50, for a total value of $1,062,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
The Gap, Inc (NYSE:GPS),is a global specialty apparel company.
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