Telsey Advisory Group Lowers GAP (GPS) Price Target to $34.00

GAP (NYSE:GPS) had its price objective decreased by Telsey Advisory Group from $39.00 to $34.00 in a research note published on Wednesday, Marketbeat reports. Telsey Advisory Group currently has an outperform rating on the apparel retailer’s stock.

Several other analysts also recently commented on the company. B. Riley reaffirmed a neutral rating on shares of GAP in a research note on Wednesday, November 7th. ValuEngine cut GAP from a hold rating to a sell rating in a report on Thursday, November 1st. Royal Bank of Canada lowered their target price on GAP to $30.00 and set a positive rating for the company in a report on Thursday, November 1st. Goldman Sachs Group initiated coverage on GAP in a report on Thursday, October 25th. They set a neutral rating and a $28.00 target price for the company. Finally, Standpoint Research upgraded GAP from a hold rating to a buy rating and set a $32.00 target price for the company in a report on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $31.39.

Shares of GAP stock opened at $26.00 on Wednesday. The firm has a market cap of $10.00 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.12 and a beta of 0.71. GAP has a 12 month low of $24.25 and a 12 month high of $35.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.97.

GAP (NYSE:GPS) last issued its quarterly earnings data on Tuesday, November 20th. The apparel retailer reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.01. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4 billion. GAP had a return on equity of 29.45% and a net margin of 5.57%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. On average, analysts expect that GAP will post 2.56 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 30th. Stockholders of record on Wednesday, January 9th will be issued a $0.2425 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Tuesday, January 8th. GAP’s payout ratio is 45.54%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of GAP by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 27,822,458 shares of the apparel retailer’s stock valued at $802,678,000 after acquiring an additional 1,433,737 shares in the last quarter. Morgan Stanley grew its holdings in shares of GAP by 64.8% in the 3rd quarter. Morgan Stanley now owns 720,112 shares of the apparel retailer’s stock valued at $20,774,000 after acquiring an additional 283,224 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of GAP by 9.4% in the 3rd quarter. Nordea Investment Management AB now owns 63,016 shares of the apparel retailer’s stock valued at $1,818,000 after acquiring an additional 5,437 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of GAP by 19.0% in the 3rd quarter. Teachers Advisors LLC now owns 1,446,209 shares of the apparel retailer’s stock valued at $41,723,000 after acquiring an additional 230,741 shares in the last quarter. Finally, Kentucky Retirement Systems bought a new position in shares of GAP in the 3rd quarter valued at about $855,000. Institutional investors own 56.90% of the company’s stock.

About GAP

The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, and Intermix brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.

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Analyst Recommendations for GAP (NYSE:GPS)

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