The Gap Price Target Raised to $48.00 (GPS)
Investment analysts at Cowen and Company increased their price objective on shares of The Gap (NYSE:GPS) from $41.00 to $48.00 in a note issued to investors on Tuesday. Cowen and Company’s target price would suggest a potential upside of 5.01% from the stock’s previous close.
In other The Gap news, CEO Glenn Murphy sold 600,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $45.50, for a total transaction of $27,300,000.00. 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 Telsey Advisory Group 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 “not rated” rating on the stock. Separately, 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. Finally, 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. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The Gap has an average rating of “Hold” and a consensus target price of $42.34.
Shares of The Gap (NYSE:GPS) traded up 0.63% during mid-day trading on Tuesday, hitting $46.00. 978,528 shares of the company’s stock traded hands. The Gap has a 1-year low of $36.13 and a 1-year high of $46.24. The stock’s 50-day moving average is $41.16 and its 200-day moving average is $41.08. The company has a market cap of $19.964 billion and a price-to-earnings ratio of 16.85.
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 $2.96 EPS 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 1.93%. The ex-dividend date is Monday, October 6th.
The Gap, Inc (NYSE:GPS),is a global specialty apparel company.
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