Gap Inc. (GPS) Receives “Buy” Rating from Jefferies Group
Gap Inc. (NYSE:GPS)‘s stock had its “buy” rating restated by research analysts at Jefferies Group in a research note issued on Monday. They currently have a $32.00 target price on the apparel retailer’s stock. Jefferies Group’s price target would suggest a potential upside of 20.98% from the stock’s previous close.
Other equities analysts have also recently issued reports about the stock. Oppenheimer Holdings Inc. reissued a “” rating and issued a $20.00 target price on shares of Gap in a research note on Monday, August 22nd. Vetr cut shares of Gap from a “strong-buy” rating to a “buy” rating and set a $23.68 target price for the company. in a research note on Thursday, June 30th. Canaccord Genuity reissued a “buy” rating on shares of Gap in a research note on Wednesday, August 17th. Zacks Investment Research raised shares of Gap from a “strong sell” rating to a “hold” rating in a research note on Monday, July 11th. Finally, MKM Partners reissued a “hold” rating and issued a $21.00 target price on shares of Gap in a research note on Saturday, July 9th. Six investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and five have given a buy rating to the company. Gap presently has a consensus rating of “Hold” and an average price target of $25.29.
Shares of Gap (NYSE:GPS) traded down 0.83% during trading on Monday, hitting $26.23. 1,693,774 shares of the stock were exchanged. The firm’s 50-day moving average is $23.85 and its 200 day moving average is $23.00. Gap has a 1-year low of $17.00 and a 1-year high of $30.49. The company has a market cap of $10.45 billion, a P/E ratio of 14.78 and a beta of 1.28.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/gap-inc-gps-receives-buy-rating-from-jefferies-group.html
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, beating the Zacks’ 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 company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period last year, the company earned $0.64 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. Equities analysts forecast that Gap will post ($0.01) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Monday, October 3rd. Gap’s payout ratio is currently 51.98%.
A number of large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its position 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 shares of Gap by 233.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 570,237 shares of the apparel retailer’s stock worth $12,101,000 after buying an additional 399,449 shares during the period. PGGM Investments increased its position in shares of Gap by 79.7% in the second quarter. PGGM Investments now owns 1,695,205 shares of the apparel retailer’s stock worth $35,972,000 after buying an additional 751,688 shares during the period. Babson Capital Management LLC increased its position in shares of Gap by 200.8% in the first quarter. Babson Capital Management LLC now owns 75,195 shares of the apparel retailer’s stock worth $2,211,000 after buying an additional 50,200 shares during the period. Finally, Beddow Capital Management Inc. acquired a new position in shares of Gap during the first quarter worth about $226,000. 57.42% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Gap Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gap Inc. and related companies with MarketBeat.com's FREE daily email newsletter.