FBR & Co Reaffirms “Hold” Rating for Gap Inc. (GPS)
Gap Inc. (NYSE:GPS)‘s stock had its “hold” rating reaffirmed by investment analysts at FBR & Co in a research report issued to clients and investors on Friday. They presently have a $22.00 price objective on the apparel retailer’s stock. FBR & Co’s price objective suggests a potential downside of 3.42% from the company’s current price.
Several other equities research analysts also recently weighed in on the company. Wedbush restated a “neutral” rating and set a $20.00 price target on shares of Gap in a report on Wednesday, June 15th. Wolfe Research upgraded Gap from a “market perform” rating to an “outperform” rating in a report on Friday, June 17th. Vetr downgraded Gap from a “strong-buy” rating to a “buy” rating and set a $23.14 price target on the stock. in a report on Thursday, June 23rd. BMO Capital Markets restated a “market perform” rating and set a $20.00 price target on shares of Gap in a report on Thursday, July 7th. Finally, Stifel Nicolaus restated a “positive” rating on shares of Gap in a report on Friday, July 8th. Six analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Gap has an average rating of “Hold” and an average target price of $24.90.
Shares of Gap (NYSE:GPS) traded up 15.23% on Friday, hitting $26.25. The stock had a trading volume of 31,454,599 shares. The firm’s 50-day moving average price is $23.87 and its 200 day moving average price is $23.07. Gap has a 52-week low of $17.00 and a 52-week high of $30.49. The firm has a market cap of $10.46 billion, a PE ratio of 14.79 and a beta of 1.28.
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Gap (NYSE:GPS) last posted its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.79 billion. Gap had a return on equity of 33.26% and a net margin of 4.60%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. On average, equities research analysts predict that Gap will post ($0.01) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Monday, October 3rd. Gap’s dividend payout ratio (DPR) is presently 51.98%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPS. Acropolis Investment Management LLC raised its position in Gap by 1.2% in the third quarter. Acropolis Investment Management LLC now owns 74,920 shares of the apparel retailer’s stock valued at $1,666,000 after buying an additional 900 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Gap by 11.2% in the third quarter. BNP Paribas Arbitrage SA now owns 154,810 shares of the apparel retailer’s stock worth $3,443,000 after buying an additional 15,647 shares during the last quarter. Kentucky Retirement Systems acquired a new stake in shares of Gap during the second quarter worth about $409,000. Mason Street Advisors LLC acquired a new stake in shares of Gap during the second quarter worth about $648,000. Finally, Tobam raised its stake in shares of Gap by 61.3% in the second quarter. Tobam now owns 2,175,221 shares of the apparel retailer’s stock worth $46,159,000 after buying an additional 826,805 shares during the last quarter. 57.42% of the stock is currently owned by institutional investors.
Gap Company Profile
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
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