The Gap Sets New 12-Month High at $46.63 (GPS)
Shares of The Gap (NYSE:GPS) hit a new 52-week high during trading on Tuesday , AnalystRatings.NET reports. The stock traded as high as $46.63 and last traded at $46.46, with a volume of 1,798,645 shares trading hands. The stock had previously closed at $46.15.
A number of analysts have recently weighed in on GPS shares. Analysts at Cowen and Company raised their price target on shares of The Gap from $41.00 to $48.00 in a research note on Tuesday, August 26th. Separately, 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, August 22nd. They now have a “not rated” rating on the stock. Finally, 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, August 22nd. They now have a “buy” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The Gap presently has a consensus rating of “Hold” and an average price target of $42.34.
The stock’s 50-day moving average is $41.70 and its 200-day moving average is $41.22. The company has a market cap of $20.072 billion and a price-to-earnings ratio of 17.02.
The Gap (NYSE:GPS) last announced its earnings results on Thursday, August 21st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. 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. 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 1.91%. The ex-dividend date of this dividend is Monday, October 6th.
In other The Gap news, Insider Jack Calhoun sold 93,750 shares of the stock on the open market in a transaction dated Monday, August 25th. The stock was sold at an average price of $45.79, for a total value of $4,292,812.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
The Gap, Inc (NYSE:GPS),is a global specialty apparel company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.