Gap Inc. (GPS) PT Set at $32.00 by Jefferies Group
Gap Inc. (NYSE:GPS) received a $32.00 price objective from equities researchers at Jefferies Group in a report released on Saturday. The firm presently has a a “buy” rating on the apparel retailer’s stock. Jefferies Group’s target price indicates a potential upside of 21.90% from the stock’s previous close.
GPS has been the topic of a number of other reports. JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $22.00 target price on shares of Gap in a research report on Friday, August 19th. Vetr raised Gap from a “buy” rating to a “strong-buy” rating and set a $27.90 target price on the stock in a research report on Wednesday, August 31st. RBC Capital Markets set a $23.00 target price on Gap and gave the company a “hold” rating in a research report on Tuesday, September 13th. Nomura upped their target price on Gap from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, August 19th. Finally, Oppenheimer Holdings Inc. reaffirmed a “” rating and issued a $20.00 target price on shares of Gap in a research report on Monday, August 22nd. Six analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $25.17.
Gap (NYSE:GPS) traded up 15.23% during midday trading on Friday, reaching $26.25. The company’s stock had a trading volume of 31,862,161 shares. Gap has a 1-year low of $17.00 and a 1-year high of $30.49. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of 14.79 and a beta of 1.28. The company’s 50-day moving average price is $23.88 and its 200-day moving average price is $23.05.
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Gap (NYSE:GPS) last announced its earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the company posted $0.64 EPS. Gap’s quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts predict that Gap will post ($0.01) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a $0.23 dividend. The ex-dividend date of this dividend 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 is currently 51.98%.
Several hedge funds have recently made changes to their positions in GPS. Assetmark purchased a new stake in shares of Gap during the third quarter worth approximately $0. Blair William & Co. IL increased its stake in shares of Gap by 0.5% in the second quarter. Blair William & Co. IL now owns 18,164 shares of the apparel retailer’s stock worth $385,000 after buying an additional 84 shares in the last quarter. Cypress Capital Group increased its stake in shares of Gap by 0.9% in the first quarter. Cypress Capital Group now owns 16,426 shares of the apparel retailer’s stock worth $482,000 after buying an additional 148 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Gap by 1.3% in the first quarter. Stratos Wealth Partners LTD. now owns 13,757 shares of the apparel retailer’s stock worth $404,000 after buying an additional 175 shares in the last quarter. Finally, Charter Trust Co. increased its stake in shares of Gap by 1.6% in the second quarter. Charter Trust Co. now owns 11,374 shares of the apparel retailer’s stock worth $241,000 after buying an additional 175 shares in the last quarter. 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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