The Gap Price Target Raised to $50.00 (GPS)
Stock analysts at Telsey Advisory Group boosted their target price on shares of The Gap (NYSE:GPS) from $48.00 to $50.00 in a report issued on Friday. The firm currently has a “not rated” rating on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 15.79% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity 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 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. Finally, 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. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $42.08.
In other The Gap news, EVP John T. Keiser unloaded 25,000 shares of The Gap stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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 price-to-earnings ratio of 16.53. The Gap also was the target of unusually large options trading activity on Thursday. Traders acquired 4,371 put options on the stock. This is an increase of approximately 125% compared to the typical 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 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 announced a quarterly dividend, which is scheduled for Wednesday, October 29th. Stockholders 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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