GAP (NYSE:GPS) Price Target Cut to $26.00 by Analysts at Bank of America

GAP (NYSE:GPS) had its price target cut by stock analysts at Bank of America from $32.00 to $26.00 in a research note issued on Wednesday, The Fly reports. The brokerage presently has a “neutral” rating on the apparel retailer’s stock. Bank of America‘s price target would suggest a potential upside of 10.59% from the company’s previous close.

A number of other research firms have also weighed in on GPS. Telsey Advisory Group decreased their target price on shares of GAP from $33.00 to $24.00 and set a “market perform” rating on the stock in a research note on Wednesday. The Goldman Sachs Group decreased their target price on shares of GAP from $33.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday. TheStreet lowered shares of GAP from a “b-” rating to a “c+” rating in a research report on Thursday, August 19th. Zacks Investment Research lowered shares of GAP from a “buy” rating to a “hold” rating and set a $24.00 price target on the stock. in a research report on Wednesday, October 27th. Finally, Citigroup reduced their price target on shares of GAP from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, October 22nd. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.53.

GPS opened at $23.51 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.70 and a quick ratio of 1.07. The company’s 50 day simple moving average is $23.68 and its two-hundred day simple moving average is $28.02. GAP has a 1-year low of $19.10 and a 1-year high of $37.63. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 0.92 and a beta of 1.67.

GAP (NYSE:GPS) last released its earnings results on Tuesday, November 23rd. The apparel retailer reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.23). GAP had a return on equity of 24.45% and a net margin of 4.53%. The business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period last year, the business earned $0.25 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities analysts anticipate that GAP will post 2.19 earnings per share for the current fiscal year.

In other GAP news, CEO Sonia Syngal sold 6,945 shares of the business’s stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $24.71, for a total value of $171,610.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 41.39% of the company’s stock.

Several large investors have recently bought and sold shares of the business. FMR LLC lifted its position in shares of GAP by 1,723.2% during the 1st quarter. FMR LLC now owns 251,986 shares of the apparel retailer’s stock worth $6,597,000 after purchasing an additional 238,165 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in shares of GAP during the 1st quarter worth $222,000. KB Financial Partners LLC purchased a new stake in shares of GAP during the 1st quarter worth $320,000. IFP Advisors Inc lifted its position in shares of GAP by 444.5% during the 2nd quarter. IFP Advisors Inc now owns 1,394 shares of the apparel retailer’s stock worth $47,000 after purchasing an additional 1,138 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its position in shares of GAP by 73.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,242 shares of the apparel retailer’s stock worth $42,000 after purchasing an additional 528 shares during the last quarter. Institutional investors and hedge funds own 54.90% of the company’s stock.

About GAP

Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.

Further Reading: Quantitative Easing

The Fly logo

Analyst Recommendations for GAP (NYSE:GPS)

Receive News & Ratings for GAP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GAP and related companies with MarketBeat.com's FREE daily email newsletter.