Gap’s (GPS) “Neutral” Rating Reaffirmed at Buckingham Research
Gap Inc. (NYSE:GPS)‘s stock had its “neutral” rating reaffirmed by investment analysts at Buckingham Research in a research report issued on Monday. They presently have a $23.00 price target on the apparel retailer’s stock. Buckingham Research’s price target would suggest a potential downside of 12.38% from the stock’s current price.
Several other equities analysts also recently issued reports on GPS. Vetr downgraded shares of Gap from a “strong-buy” rating to a “sell” rating and set a $25.20 price target for the company. in a report on Monday. Jefferies Group set a $32.00 price target on shares of Gap and gave the company a “buy” rating in a report on Saturday. FBR & Co reissued a “hold” rating and set a $22.00 price target on shares of Gap in a report on Friday. Bank of America Corp. set a $20.00 price target on shares of Gap and gave the company a “sell” rating in a report on Thursday. Finally, Stifel Nicolaus reissued a “hold” rating and set a $25.00 price target on shares of Gap in a report on Friday. Seven equities research 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 company. The stock currently has an average rating of “Hold” and a consensus price target of $25.15.
Gap (NYSE:GPS) opened at 26.25 on Monday. Gap has a 12-month low of $17.00 and a 12-month high of $30.49. The stock has a market capitalization of $10.46 billion, a P/E ratio of 14.79 and a beta of 1.28. The firm’s 50-day moving average is $23.88 and its 200 day moving average is $23.05.
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Gap (NYSE:GPS) last released its earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. Gap had a net margin of 4.60% and a return on equity of 33.26%. The firm earned $3.85 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research 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 paid a dividend of $0.23 per share. The ex-dividend date is Monday, October 3rd. This represents a $0.92 annualized dividend and a 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. Vanguard Group Inc. raised its stake in shares of Gap by 2.3% in the second quarter. Vanguard Group Inc. now owns 20,061,541 shares of the apparel retailer’s stock worth $425,706,000 after buying an additional 444,555 shares during the period. American International Group Inc. raised its stake in shares of Gap by 3.5% in the second quarter. American International Group Inc. now owns 14,381,188 shares of the apparel retailer’s stock worth $305,169,000 after buying an additional 483,879 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Gap by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 14,135,669 shares of the apparel retailer’s stock worth $299,958,000 after buying an additional 251,964 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Gap by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 13,531,075 shares of the apparel retailer’s stock worth $287,129,000 after buying an additional 936,648 shares during the period. Finally, State Street Corp raised 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. Institutional investors own 57.42% of the company’s stock.
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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