GAP (NYSE:GPS – Get Rating) Its price target was raised from $7.50 to $8.00 by equities researchers at Morgan Stanley in a research note published Friday, Stock Target Advisor reports. The brokerage firm currently has an underweight rating on the apparel retailer’s stock. Morgan Stanley’s price target would suggest potential downside of 19.44% from the stock’s previous close.
GPS has been the subject of several other research reports. Barclays lowered its price target on GAP to $6.00 from $7.00 and gave the company an underweight rating in a report Tuesday, July 12. Cowen lowered its price target on GAP to $12.00 from $16.00 and gave the company a market perform rating in a report Tuesday, May 31. Deutsche Bank Aktiengesellschaft lowered GAP from a “buy” rating to a “hold” rating and lowered its price target on the company to $9.00 from $12.00 in a report on Wednesday, July 13. Credit Suisse Group lowered its price target on GAP to $8.00 from $10.00 and rated the company at “neutral” in a report Tuesday, July 12. Finally, Bank of America lowered its price target on GAP to $8.00 from $9.60 and gave the company an underperform rating in a report Tuesday, July 12. Seven analysts rated the stock as a sell, twelve as a hold and one as a buy. The company currently has a consensus rating of Hold and a consensus price target of $10.62 based on data from MarketBeat.com.
GAP stock performance
GAP shares fell $0.08 during trading hours on Friday to hit $9.93. 244,089 shares of hands traded, compared to an average volume of 7,392,346. The company has a gearing ratio of 0.75, a current ratio of 1.44 and a quick ratio of 0.53. The company’s 50-day moving average price is $9.38 and its 200-day moving average price is $11.88. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of -47.29 and a beta of 1.75. GAP has a 1-year low of $7.79 and a 1-year high of $27.99.
GAP (NYSE:GPS – Get Rating) last released its quarterly earnings results on Thursday, August 25th. The apparel retailer reported earnings per share of $0.18 for the quarter, beating the consensus estimate of ($0.05) by $0.23. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.82 billion. GAP had a positive return on equity of 7.43% and a negative net margin of 0.45%. The company’s quarterly revenue declined 8.4% compared to the prior-year quarter. In the same quarter last year, the company earned $0.70 per share. As a group, equities analysts expect GAP to post -0.05 EPS for the current fiscal year.
Insider buying and selling
In related news, CEO Mary Beth Laughton sold 6,387 shares of the stock in a transaction that took place on Wednesday, August 10th. The stock sold at an average price of $10.07 for a total value of $64,317.09. Upon completion of the transaction, the Chief Executive Officer now directly owns 31,561 shares of the Company, valued at $317,819.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. 44.19% of the shares are currently owned by company insiders.
Institutional inflows and outflows
A number of large investors have recently added to or reduced their stakes in GPS. Dodge & Cox increased its stake in GAP by 6.0% in the fourth quarter. Dodge & Cox now owns 24,490,528 shares of the apparel retailer, valued at $432,258,000, after buying an additional 1,381,050 shares last quarter. BNP Paribas Arbitrage SA increased its stake in GAP shares by 214.0% in the second quarter. BNP Paribas Arbitrage SA now owns 1,366,694 shares of the apparel retailer, valued at $11,262,000, after acquiring an additional 931,496 shares last quarter. Bank of New York Mellon Corp increased its stake in GAP shares by 15.3% in the first quarter. Bank of New York Mellon Corp now owns 3,138,643 shares of the apparel retailer, valued at $44,192,000, after purchasing an additional 415,813 shares last quarter. American International Group Inc. increased its stake in GAP shares by 470.4% in the first quarter. American International Group Inc. now owns 360,438 shares of the apparel retailer, valued at $5,075,000, after acquiring an additional 297,247 shares last quarter. Finally, Pinebridge Investments LP increased its stake in GAP shares by 104.3% during the first quarter. Pinebridge Investments LP now owns 445,547 shares of the apparel retailer, valued at $6,273,000, after purchasing an additional 227,512 shares last quarter. 58.23% of the shares are currently owned by institutional investors and hedge funds.
GAP company profile
The Gap, Inc operates as an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Old Navy, Gap, Banana Republic and Athleta brands. Its products include denim, t-shirts, fleece and khakis; glasses, jewellery, shoes, handbags and fragrances; and fitness and lifestyle products for use in yoga, exercise, sports, travel and everyday activities for women and girls.
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