Gap Inc (NYSE:GPS) has been assigned an average recommendation of “Hold” from the twenty-one ratings firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $22.38.
Several research firms have recently commented on GPS. Bank of America set a $14.00 price objective on GAP and gave the company a “sell” rating in a report on Friday, August 23rd. B. Riley set a $21.00 price objective on GAP and gave the company a “hold” rating in a report on Friday, September 13th. Guggenheim restated a “hold” rating on shares of GAP in a report on Thursday, September 12th. Royal Bank of Canada decreased their price objective on GAP from $20.00 to $19.00 and set a “sector perform” rating for the company in a report on Wednesday, September 25th. Finally, Credit Suisse Group downgraded GAP from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $20.00 to $14.00 in a report on Friday.
A number of hedge funds have recently bought and sold shares of GPS. Zeke Capital Advisors LLC purchased a new position in shares of GAP during the 3rd quarter valued at $880,000. Envestnet Asset Management Inc. lifted its position in shares of GAP by 217.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 361,133 shares of the apparel retailer’s stock valued at $6,269,000 after buying an additional 247,345 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of GAP by 40.7% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 199,444 shares of the apparel retailer’s stock valued at $3,462,000 after buying an additional 57,646 shares during the last quarter. Advisor Partners LLC purchased a new position in shares of GAP during the 3rd quarter valued at $222,000. Finally, Signaturefd LLC lifted its position in shares of GAP by 52.5% during the 3rd quarter. Signaturefd LLC now owns 6,104 shares of the apparel retailer’s stock valued at $106,000 after buying an additional 2,101 shares during the last quarter. 60.02% of the stock is currently owned by institutional investors and hedge funds.
GAP (NYSE:GPS) last released its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.11. The firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.02 billion. GAP had a return on equity of 24.53% and a net margin of 5.71%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. On average, equities research analysts anticipate that GAP will post 2.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Wednesday, October 9th will be given a dividend of $0.243 per share. This is a boost from GAP’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $0.97 annualized dividend and a dividend yield of 5.76%. GAP’s payout ratio is presently 37.45%.
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, Intermix, and Hill City 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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