GAP (NYSE:GPS) Given New $20.00 Price Target at Credit Suisse Group

GAP (NYSE:GPS) had its price objective lowered by Credit Suisse Group from $31.00 to $20.00 in a research report sent to investors on Wednesday, The Fly reports. Credit Suisse Group currently has a neutral rating on the apparel retailer’s stock.

A number of other research analysts have also recently commented on the stock. Robert W. Baird cut their price target on shares of GAP from $38.00 to $26.00 and set a neutral rating for the company in a research note on Wednesday. UBS Group cut their price target on shares of GAP from $31.00 to $25.00 and set a neutral rating for the company in a research note on Wednesday. Zacks Investment Research cut shares of GAP from a buy rating to a hold rating and set a $24.00 price target for the company. in a research note on Wednesday, October 27th. Deutsche Bank Aktiengesellschaft cut their price target on shares of GAP from $43.00 to $29.00 and set a buy rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered shares of GAP from an overweight rating to a neutral rating and dropped their price objective for the stock from $39.00 to $22.00 in a report on Wednesday. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, GAP currently has a consensus rating of Hold and an average price target of $26.53.

NYSE GPS opened at $17.84 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.07 and a current ratio of 1.70. The firm has a 50-day simple moving average of $23.56 and a 200 day simple moving average of $27.95. GAP has a twelve month low of $17.71 and a twelve month high of $37.63. The stock has a market cap of $6.71 billion, a PE ratio of 9.10, a PEG ratio of 0.92 and a beta of 1.67.

GAP (NYSE:GPS) last released its earnings results on Monday, November 22nd. The apparel retailer reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.23). The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.43 billion. GAP had a net margin of 4.53% and a return on equity of 24.45%. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. Research analysts forecast that GAP will post 2.19 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 26th. Investors of record on Wednesday, January 5th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Tuesday, January 4th. GAP’s dividend payout ratio is currently 24.49%.

In related news, CEO Sonia Syngal sold 6,945 shares of the firm’s stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $24.71, for a total value of $171,610.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 41.39% of the company’s stock.

A number of hedge funds have recently made changes to their positions in GPS. Harbor Investment Advisory LLC boosted its position in shares of GAP by 73.9% during the second 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 in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of GAP by 270.0% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,850 shares of the apparel retailer’s stock worth $42,000 after purchasing an additional 1,350 shares in the last quarter. IFP Advisors Inc boosted its position in shares of GAP by 444.5% during the second 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 in the last quarter. Berman Capital Advisors LLC boosted its position in shares of GAP by 29.4% during the second quarter. Berman Capital Advisors LLC now owns 2,776 shares of the apparel retailer’s stock worth $93,000 after purchasing an additional 631 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of GAP during the third quarter worth $94,000. 54.90% of the stock is currently owned by hedge funds and other institutional investors.

GAP Company Profile

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.

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