Gap Inc. (GPS) Given a $20.00 Price Target by Bank of America Corp. Analysts
Gap Inc. (NYSE:GPS) received a $20.00 target price from Bank of America Corp. in a report released on Thursday. The firm presently has a a “sell” rating on the apparel retailer’s stock. Bank of America Corp.’s price target points to a potential downside of 23.81% from the stock’s previous close.
Other research analysts have also issued reports about the company. Wedbush reiterated a “neutral” rating and set a $20.00 target price on shares of Gap in a report on Wednesday, June 15th. Guggenheim reiterated a “hold” rating on shares of Gap in a report on Saturday, July 9th. MKM Partners reiterated a “hold” rating and set a $21.00 target price on shares of Gap in a report on Saturday, July 9th. Jefferies Group reissued a “buy” rating on shares of Gap in a research note on Saturday, July 9th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Gap in a research note on Saturday, July 9th. Six equities research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.90.
Shares of Gap (NYSE:GPS) traded up 15.23% during mid-day trading on Thursday, reaching $26.25. The company had a trading volume of 31,837,717 shares. The firm’s 50-day moving average is $23.87 and its 200 day moving average is $23.07. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of 14.79 and a beta of 1.28. Gap has a 12 month low of $17.00 and a 12 month high of $30.49.
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Gap (NYSE:GPS) last posted its earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.79 billion. Gap had a return on equity of 33.26% and a net margin of 4.60%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. On average, equities research analysts predict that Gap will post ($0.01) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be given a dividend of $0.23 per share. The ex-dividend date is Monday, October 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.50%. Gap’s dividend payout ratio (DPR) is presently 51.98%.
Several institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in Gap by 11.7% in the second quarter. Pacer Advisors Inc. now owns 5,777 shares of the apparel retailer’s stock worth $123,000 after buying an additional 606 shares during the period. Advisory Services Network LLC boosted its position in Gap by 22.1% in the second quarter. Advisory Services Network LLC now owns 5,869 shares of the apparel retailer’s stock worth $125,000 after buying an additional 1,062 shares during the period. Americafirst Capital Management LLC bought a new position in Gap during the second quarter worth about $139,000. Sigma Planning Corp bought a new position in Gap during the second quarter worth about $216,000. Finally, Beddow Capital Management Inc. bought a new position in Gap during the first quarter worth about $226,000. 57.42% of the stock is currently owned by institutional investors.
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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