Gap’s (GPS) Hold Rating Reaffirmed at FBR & Co
Gap Inc. (NYSE:GPS)‘s stock had its “hold” rating reiterated by stock analysts at FBR & Co in a report issued on Friday. They currently have a $22.00 price target on the apparel retailer’s stock. FBR & Co’s target price indicates a potential downside of 16.19% from the company’s current price.
Several other equities research analysts also recently weighed in on GPS. Cowen and Company reissued a “hold” rating on shares of Gap in a research report on Saturday, July 9th. Guggenheim reissued a “hold” rating on shares of Gap in a research report on Saturday, July 9th. MKM Partners reissued a “hold” rating and set a $21.00 price target on shares of Gap in a research report on Saturday, July 9th. Wedbush reissued a “hold” rating on shares of Gap in a research report on Saturday, July 9th. Finally, Jefferies Group reissued a “buy” rating on shares of Gap in a research report on Saturday, July 9th. Six equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Gap currently has an average rating of “Hold” and an average target price of $24.90.
Gap (NYSE:GPS) traded up 15.23% during midday trading on Friday, hitting $26.25. The company’s stock had a trading volume of 31,833,661 shares. The firm has a market cap of $10.46 billion, a P/E ratio of 14.79 and a beta of 1.28. The company’s 50 day moving average price is $23.87 and its 200 day moving average price is $23.07. 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 announced its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The company earned $3.85 billion during the quarter, compared to the consensus estimate of $3.79 billion. Gap had a net margin of 4.60% and a return on equity of 33.26%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 earnings per share. Analysts expect that Gap will post ($0.01) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors 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 (DPR) is presently 51.98%.
A number of hedge funds have recently made changes to their positions in GPS. Legal & General Group Plc increased its stake in shares of Gap by 4.2% in the first quarter. Legal & General Group Plc now owns 1,119,779 shares of the apparel retailer’s stock worth $32,922,000 after buying an additional 45,600 shares during the period. Candriam Luxembourg S.C.A. increased its position in Gap by 233.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 570,237 shares of the apparel retailer’s stock valued at $12,101,000 after buying an additional 399,449 shares during the last quarter. PGGM Investments increased its position in Gap by 79.7% in the second quarter. PGGM Investments now owns 1,695,205 shares of the apparel retailer’s stock valued at $35,972,000 after buying an additional 751,688 shares during the last quarter. Babson Capital Management LLC increased its position in Gap by 200.8% in the first quarter. Babson Capital Management LLC now owns 75,195 shares of the apparel retailer’s stock valued at $2,211,000 after buying an additional 50,200 shares during the last quarter. Finally, Beddow Capital Management Inc. bought a new position in Gap during the first quarter valued at about $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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