GAP (GPS) Downgraded by Wolfe Research to “Peer Perform”

GAP (NYSE:GPS) was downgraded by stock analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report released on Friday.

Several other research analysts also recently issued reports on the company. Barclays upped their price objective on GAP from $34.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday. Zacks Investment Research raised GAP from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Thursday, January 18th. Robert W. Baird set a $35.00 price objective on GAP and gave the company a “hold” rating in a research note on Friday, December 22nd. Canaccord Genuity reaffirmed a “buy” rating on shares of GAP in a research note on Thursday, December 14th. Finally, Oppenheimer reaffirmed a “market perform” rating and issued a $33.00 price objective on shares of GAP in a research note on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. GAP presently has a consensus rating of “Hold” and a consensus target price of $28.76.

GAP (NYSE:GPS) traded down $0.03 during mid-day trading on Friday, hitting $34.55. 482,156 shares of the stock were exchanged, compared to its average volume of 3,980,000. The company has a market capitalization of $13,440.00, a PE ratio of 15.85, a P/E/G ratio of 2.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 0.77. GAP has a 52-week low of $21.02 and a 52-week high of $35.68.

GAP (NYSE:GPS) last posted its earnings results on Thursday, November 16th. The apparel retailer reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. GAP had a net margin of 5.57% and a return on equity of 27.47%. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. sell-side analysts forecast that GAP will post 2.1 EPS for the current fiscal year.

In other news, VP Dara Bazzano sold 1,593 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $30.04, for a total transaction of $47,853.72. Following the completion of the sale, the vice president now owns 2,866 shares of the company’s stock, valued at approximately $86,094.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Julie Gruber sold 5,462 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $35.00, for a total transaction of $191,170.00. Following the sale, the executive vice president now directly owns 11,988 shares of the company’s stock, valued at approximately $419,580. The disclosure for this sale can be found here. Insiders have sold a total of 1,549,690 shares of company stock valued at $48,798,813 in the last three months. Insiders own 27.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC grew its position in shares of GAP by 1.1% during the 2nd quarter. ProShare Advisors LLC now owns 47,619 shares of the apparel retailer’s stock worth $1,047,000 after buying an additional 536 shares during the period. QS Investors LLC grew its position in shares of GAP by 2.0% during the 2nd quarter. QS Investors LLC now owns 77,259 shares of the apparel retailer’s stock worth $1,699,000 after buying an additional 1,492 shares during the period. Voya Investment Management LLC grew its position in shares of GAP by 1.4% during the 2nd quarter. Voya Investment Management LLC now owns 126,868 shares of the apparel retailer’s stock worth $2,790,000 after buying an additional 1,712 shares during the period. Chevy Chase Trust Holdings Inc. grew its position in shares of GAP by 1.0% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 192,812 shares of the apparel retailer’s stock worth $5,694,000 after buying an additional 1,902 shares during the period. Finally, Hermes Investment Management Ltd. grew its position in shares of GAP by 7.3% during the 4th quarter. Hermes Investment Management Ltd. now owns 29,252 shares of the apparel retailer’s stock worth $996,000 after buying an additional 2,000 shares during the period. 54.88% of the stock is owned by institutional investors.

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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.