Gap Inc. (GPS) Lifted to Hold at Deutsche Bank AG
Gap Inc. (NYSE:GPS) was upgraded by equities researchers at Deutsche Bank AG from a “sell” rating to a “hold” rating in a note issued to investors on Friday. The firm currently has a $24.00 price target on the apparel retailer’s stock, up from their prior price target of $18.00. Deutsche Bank AG’s price target would indicate a potential downside of 8.57% from the company’s current price.
Other analysts also recently issued reports about the stock. Wedbush reiterated a “neutral” rating and issued a $20.00 price objective on shares of Gap in a research report on Wednesday, June 15th. Guggenheim reiterated a “hold” rating on shares of Gap in a research report on Saturday, July 9th. MKM Partners reiterated a “hold” rating and issued a $21.00 price objective on shares of Gap in a research report on Saturday, July 9th. Jefferies Group reiterated a “buy” rating on shares of Gap in a research report on Saturday, July 9th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Gap in a research report on Saturday, July 9th. Six investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $24.90.
Gap (NYSE:GPS) traded up 15.23% during mid-day trading on Friday, hitting $26.25. 31,859,065 shares of the stock traded hands. Gap has a 12-month low of $17.00 and a 12-month 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. The stock has a 50 day moving average price of $23.87 and a 200 day moving average price of $23.07.
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Gap (NYSE:GPS) last posted its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The business earned $3.85 billion during the quarter, compared to analyst estimates of $3.79 billion. Gap had a net margin of 4.60% and a return on equity of 33.26%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. On average, analysts expect that Gap will post ($0.01) earnings per share for the current fiscal 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 issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Monday, October 3rd. Gap’s dividend payout ratio is currently 51.98%.
A number of large investors have recently modified their holdings of GPS. Pacer Advisors Inc. raised its stake in shares of 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 in the last quarter. Advisory Services Network LLC raised its stake in shares of 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 in the last quarter. Americafirst Capital Management LLC bought a new stake in shares of Gap during the second quarter worth approximately $139,000. Sigma Planning Corp bought a new stake in shares of Gap during the second quarter worth approximately $216,000. Finally, Beddow Capital Management Inc. bought a new stake in shares of Gap during the first quarter worth approximately $226,000. 57.42% of the stock is currently owned by hedge funds and other 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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