Gap Inc. (GPS) Downgraded by Vetr Inc. to “Sell”
Gap Inc. (NYSE:GPS) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “sell” rating in a note issued to investors on Monday. They currently have a $25.20 price objective on the apparel retailer’s stock. Vetr‘s target price would indicate a potential downside of 4.62% from the company’s current price.
Several other equities analysts have also recently commented on the stock. Jefferies Group reiterated a “buy” rating on shares of Gap in a research note on Monday, August 29th. Canaccord Genuity reiterated a “buy” rating on shares of Gap in a research note on Wednesday, August 17th. Stifel Nicolaus reiterated a “hold” rating on shares of Gap in a research note on Friday, August 19th. Deutsche Bank AG cut their target price on shares of Gap from $19.00 to $18.00 and set a “sell” rating for the company in a research note on Friday, August 19th. Finally, FBR & Co reiterated a “hold” rating and set a $22.00 target price on shares of Gap in a research note on Friday. Seven investment analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.15.
Shares of Gap (NYSE:GPS) traded up 0.65% during midday trading on Monday, hitting $26.42. 8,621,244 shares of the stock traded hands. The firm has a 50-day moving average price of $23.86 and a 200 day moving average price of $22.94. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 14.88 and a beta of 1.28. Gap has a one year low of $17.00 and a one year high of $30.49.
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Gap (NYSE:GPS) last posted its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The business 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%. Gap’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. Analysts anticipate that Gap will post ($0.01) earnings per share for the current 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 given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 3.48%. Gap’s dividend payout ratio (DPR) is 51.98%.
A number of institutional investors have recently added to or reduced their stakes in GPS. Acropolis Investment Management LLC boosted its stake in shares of Gap by 1.2% in the third quarter. Acropolis Investment Management LLC now owns 74,920 shares of the apparel retailer’s stock worth $1,666,000 after buying an additional 900 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Gap by 11.2% in the third quarter. BNP Paribas Arbitrage SA now owns 154,810 shares of the apparel retailer’s stock worth $3,443,000 after buying an additional 15,647 shares during the last quarter. Kentucky Retirement Systems acquired a new stake in shares of Gap during the second quarter worth about $409,000. Mason Street Advisors LLC acquired a new stake in shares of Gap during the second quarter worth about $648,000. Finally, Tobam boosted its stake in shares of Gap by 61.3% in the second quarter. Tobam now owns 2,175,221 shares of the apparel retailer’s stock worth $46,159,000 after buying an additional 826,805 shares during the last quarter. 57.42% of the stock is 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.
To view Vetr’s full report, visit Vetr’s official website.
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