GAP (NYSE:GPS) had its price objective upped by equities research analysts at Barclays from $34.00 to $39.00 in a research report issued to clients and investors on Thursday. The firm currently has an “overweight” rating on the apparel retailer’s stock. Barclays’ target price suggests a potential upside of 12.78% from the stock’s previous close.
GPS has been the subject of several other research reports. Royal Bank of Canada increased their price target on GAP from $26.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday, November 17th. Oppenheimer set a $33.00 price target on GAP and gave the stock a “buy” rating in a research note on Monday, October 30th. KeyCorp reissued a “buy” rating and issued a $33.00 price target on shares of GAP in a research note on Friday, November 3rd. Zacks Investment Research cut GAP from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Finally, TheStreet cut GAP from a “b” rating to a “c+” rating in a research note on Monday, November 13th. Three analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $28.76.
GAP (GPS) traded down $0.30 during midday trading on Thursday, hitting $34.58. 2,165,711 shares of the stock were exchanged, compared to its average volume of 4,060,000. GAP has a one year low of $21.02 and a one year high of $35.68. The firm has a market cap of $13,450.00, a P/E ratio of 15.86, a P/E/G ratio of 2.11 and a beta of 0.94. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.77 and a current ratio of 1.73.
In related news, CEO Jeff Kirwan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $26.11, for a total transaction of $26,110.00. Following the completion of the transaction, the chief executive officer now owns 24,268 shares of the company’s stock, valued at $633,637.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Katherine Tsang sold 20,000 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $29.48, for a total value of $589,600.00. Following the completion of the transaction, the director now owns 783 shares of the company’s stock, valued at approximately $23,082.84. The disclosure for this sale can be found here. Insiders have sold 1,549,690 shares of company stock valued at $48,798,813 in the last ninety days. Company insiders own 27.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in GPS. ProShare Advisors LLC boosted its position in shares of GAP by 1.1% in the 2nd quarter. ProShare Advisors LLC now owns 47,619 shares of the apparel retailer’s stock valued at $1,047,000 after purchasing an additional 536 shares during the period. New York State Common Retirement Fund boosted its position in shares of GAP by 6.8% in the 2nd quarter. New York State Common Retirement Fund now owns 520,300 shares of the apparel retailer’s stock valued at $11,441,000 after purchasing an additional 33,299 shares during the period. Northern Trust Corp boosted its position in shares of GAP by 2.1% in the 2nd quarter. Northern Trust Corp now owns 3,274,671 shares of the apparel retailer’s stock valued at $72,010,000 after purchasing an additional 65,815 shares during the period. Vanguard Group Inc. boosted its position in shares of GAP by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 23,743,881 shares of the apparel retailer’s stock valued at $522,127,000 after purchasing an additional 643,396 shares during the period. Finally, M&T Bank Corp boosted its position in shares of GAP by 66.9% in the 2nd quarter. M&T Bank Corp now owns 19,205 shares of the apparel retailer’s stock valued at $422,000 after purchasing an additional 7,699 shares during the period. Institutional investors and hedge funds own 54.88% of the company’s stock.
About GAP
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.
