KeyCorp Reiterates “Buy” Rating for Gap, Inc. (The) (GPS)
Gap, Inc. (The) (NYSE:GPS)‘s stock had its “buy” rating reissued by equities research analysts at KeyCorp in a research report issued to clients and investors on Friday. They currently have a $33.00 price objective on the apparel retailer’s stock. KeyCorp’s target price would indicate a potential upside of 25.09% from the company’s previous close.
A number of other research firms also recently issued reports on GPS. Barclays PLC started coverage on shares of Gap, Inc. (The) in a research report on Tuesday, September 19th. They issued an “overweight” rating and a $32.00 price target on the stock. Zacks Investment Research upgraded shares of Gap, Inc. (The) from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Thursday, September 21st. Oppenheimer Holdings, Inc. set a $28.00 price target on shares of Gap, Inc. (The) and gave the stock a “buy” rating in a research report on Thursday, August 17th. Jefferies Group LLC set a $35.00 price target on shares of Gap, Inc. (The) and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, BMO Capital Markets set a $23.00 price target on shares of Gap, Inc. (The) and gave the stock a “hold” rating in a research report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $26.79.
Gap, Inc. (NYSE:GPS) traded up $0.40 during midday trading on Friday, reaching $26.38. 3,322,217 shares of the company’s stock were exchanged, compared to its average volume of 5,596,147. The company has a current ratio of 1.77, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $10.37 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.60 and a beta of 0.86.
Gap, Inc. (The) (NYSE:GPS) last posted its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.06. Gap, Inc. (The) had a net margin of 5.42% and a return on equity of 28.50%. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the firm posted $0.60 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. sell-side analysts expect that Gap, Inc. will post 2.06 EPS for the current fiscal year.
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In other news, CEO Jeff Kirwan sold 1,000 shares of Gap, Inc. (The) stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $29.38, for a total value of $29,380.00. Following the transaction, the chief executive officer now directly owns 25,268 shares of the company’s stock, valued at $742,373.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sonia Syngal sold 1,935 shares of Gap, Inc. (The) stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $25.79, for a total transaction of $49,903.65. Following the completion of the transaction, the chief executive officer now directly owns 39,656 shares in the company, valued at $1,022,728.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 676,682 shares of company stock worth $18,906,180. 27.30% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Ffcm LLC boosted its holdings in shares of Gap, Inc. (The) by 198.0% during the second quarter. Ffcm LLC now owns 5,296 shares of the apparel retailer’s stock worth $121,000 after purchasing an additional 3,519 shares during the period. Howe & Rusling Inc. acquired a new stake in shares of Gap, Inc. (The) during the third quarter worth approximately $190,000. James Investment Research Inc. acquired a new stake in shares of Gap, Inc. (The) during the second quarter worth approximately $144,000. Bridges Investment Management Inc. acquired a new stake in shares of Gap, Inc. (The) during the third quarter worth approximately $236,000. Finally, Paragon Capital Management Ltd acquired a new stake in shares of Gap, Inc. (The) during the second quarter worth approximately $229,000. 56.39% of the stock is currently owned by institutional investors and hedge funds.
Gap, Inc. (The) 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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