Gap Inc. (GPS) Shares Up 14.2% Following Analyst Upgrade
Gap Inc. (NYSE:GPS) shares traded up 14.2% during mid-day trading on Friday after Jefferies Group raised their price target on the stock to $22.78. Jefferies Group currently has a hold rating on the stock. Gap traded as high as $26.67 and last traded at $26.01, with a volume of 22,284,577 shares traded. The stock had previously closed at $22.78.
GPS has been the topic of several other research reports. Oppenheimer Holdings Inc. reiterated a “” rating and set a $20.00 price target on shares of Gap in a research report on Monday, August 22nd. Vetr lowered shares of Gap from a “buy” rating to a “hold” rating and set a $27.90 price target on the stock. in a research report on Monday, August 22nd. Citigroup Inc. increased their price target on shares of Gap from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, August 19th. JPMorgan Chase & Co. reiterated a “sell” rating and set a $22.00 price target on shares of Gap in a research report on Friday, August 19th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Gap in a research report on Friday, August 19th. Six analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Gap has a consensus rating of “Hold” and an average target price of $24.90.
Several large investors have recently modified their holdings of the company. 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 valued at $123,000 after buying an additional 606 shares during the period. 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 valued at $125,000 after buying an additional 1,062 shares during the period. Americafirst Capital Management LLC acquired a new stake in shares of Gap during the second quarter valued at $139,000. Sigma Planning Corp acquired a new stake in shares of Gap during the second quarter valued at $216,000. Finally, Beddow Capital Management Inc. acquired a new stake in shares of Gap during the first quarter valued at $226,000. 57.42% of the stock is currently owned by institutional investors and hedge funds.
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The firm has a 50 day moving average of $23.87 and a 200 day moving average of $23.07. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 14.685 and a beta of 1.28.
Gap (NYSE:GPS) last announced its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The company earned $3.85 billion during 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 firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. On average, equities research analysts forecast that Gap Inc. will post ($0.01) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.92 annualized dividend and a yield of 4.04%. Gap’s dividend payout ratio is presently 51.98%.
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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