Gap Inc. (GPS) Given a $20.00 Price Target at Bank of America Corp.
Gap Inc. (NYSE:GPS) received a $20.00 price objective from investment analysts at Bank of America Corp. in a report issued on Thursday. The firm currently has a a “sell” rating on the apparel retailer’s stock. Bank of America Corp.’s price objective points to a potential downside of 12.20% from the company’s previous close.
GPS has been the topic of a number of other research reports. Jefferies Group reiterated a “buy” rating on shares of Gap in a research note on Monday, August 29th. Vetr upgraded shares of Gap from a “sell” rating to a “hold” rating and set a $25.65 price objective on the stock in a research note on Monday, July 25th. Canaccord Genuity reiterated a “buy” rating on shares of Gap in a research note on Wednesday, August 17th. Stifel Nicolaus reiterated a “hold” rating on shares of Gap in a research note on Friday, August 19th. Finally, Deutsche Bank AG lowered their price objective on shares of Gap from $19.00 to $18.00 and set a “sell” rating on the stock in a research note on Friday, August 19th. Six investment analysts have rated the stock with a sell rating, twenty-seven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $24.90.
Shares of Gap (NYSE:GPS) traded up 14.97% on Thursday, reaching $26.19. The company’s stock had a trading volume of 26,777,781 shares. The stock has a market capitalization of $10.44 billion, a PE ratio of 14.75 and a beta of 1.28. Gap has a 1-year low of $17.00 and a 1-year high of $30.49. The stock has a 50-day moving average of $23.87 and a 200 day moving average of $23.07.
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Gap (NYSE:GPS) last posted its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.01. Gap had a net margin of 4.60% and a return on equity of 33.26%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the business earned $0.64 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts forecast that Gap will post ($0.01) EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Monday, October 3rd. Gap’s dividend payout ratio (DPR) is presently 51.98%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc bought a new position in Gap during the first quarter valued at $287,000. Ngam Advisors L.P. boosted its position in Gap by 74.6% in the first quarter. Ngam Advisors L.P. now owns 95,198 shares of the apparel retailer’s stock valued at $2,799,000 after buying an additional 40,684 shares during the period. TIAA CREF Investment Management LLC boosted its position in Gap by 10.3% in the first quarter. TIAA CREF Investment Management LLC now owns 1,184,150 shares of the apparel retailer’s stock valued at $34,814,000 after buying an additional 110,100 shares during the period. Teachers Advisors Inc. boosted its position in Gap by 9.8% in the first quarter. Teachers Advisors Inc. now owns 614,240 shares of the apparel retailer’s stock valued at $18,059,000 after buying an additional 54,941 shares during the period. Finally, Franklin Resources Inc. boosted its position in Gap by 1.8% in the first quarter. Franklin Resources Inc. now owns 5,238,420 shares of the apparel retailer’s stock valued at $154,010,000 after buying an additional 94,400 shares during the period. Institutional investors own 57.42% of the company’s stock.
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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