Gap’s (GPS) In-Line Rating Reaffirmed at Mizuho
Gap Inc. (NYSE:GPS)‘s stock had its “in-line” rating reissued by analysts at Mizuho in a report issued on Friday.
Several other brokerages also recently issued reports on GPS. Oppenheimer Holdings Inc. reaffirmed a “” rating and set a $20.00 price target on shares of Gap in a report on Monday, August 22nd. Vetr downgraded Gap from a “buy” rating to a “hold” rating and set a $27.90 price target for the company. in a report on Monday, August 22nd. Jefferies Group reissued a “buy” rating on shares of Gap in a report on Monday, August 29th. Citigroup Inc. lifted their target price on Gap from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, August 19th. Finally, JPMorgan Chase & Co. reissued a “sell” rating and set a $22.00 target price on shares of Gap in a report on Friday, August 19th. Six investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $24.90.
Gap (NYSE:GPS) traded up 15.23% during midday trading on Friday, hitting $26.25. 31,859,065 shares of the stock traded hands. The stock has a market capitalization of $10.46 billion, a PE ratio of 14.79 and a beta of 1.28. The firm’s 50 day moving average is $23.87 and its 200-day moving average 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 (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01. Gap had a return on equity of 33.26% and a net margin of 4.60%. The business earned $3.85 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the firm posted $0.64 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts anticipate that Gap will post ($0.01) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders 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 dividend yield of 3.50%. Gap’s payout ratio is 51.98%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. AXA increased its position in Gap by 4.1% in the first quarter. AXA now owns 1,682,660 shares of the apparel retailer’s stock valued at $49,470,000 after buying an additional 66,400 shares during the last quarter. Pictet Asset Management Ltd. boosted its stake in shares of Gap by 1.1% in the first quarter. Pictet Asset Management Ltd. now owns 187,080 shares of the apparel retailer’s stock worth $5,172,000 after buying an additional 2,090 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Gap by 25,265.6% in the first quarter. Lazard Asset Management LLC now owns 2,020,625 shares of the apparel retailer’s stock worth $59,406,000 after buying an additional 2,012,659 shares during the period. State Street Corp boosted its stake in shares of Gap by 1.3% in the first quarter. State Street Corp now owns 10,878,900 shares of the apparel retailer’s stock worth $319,845,000 after buying an additional 140,396 shares during the period. Finally, Zebra Capital Management LLC boosted its stake in shares of Gap by 21.7% in the first quarter. Zebra Capital Management LLC now owns 35,918 shares of the apparel retailer’s stock worth $1,056,000 after buying an additional 6,401 shares during the period. Institutional investors own 57.42% of the company’s stock.
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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