GAP (NYSE:GPS) Price Target Cut to $7.00 by Analysts at Citigroup

GAP (NYSE:GPS – Get Rating) had its price objective decreased by Citigroup from $8.00 to $7.00 in a research note released on Friday morning, The Fly reports.

Several other equities research analysts have also commented on the stock. The Goldman Sachs Group dropped their price objective on shares of GAP from $20.00 to $14.00 and set a neutral rating on the stock in a research note on Friday, April 22nd. UBS Group dropped their price objective on shares of GAP from $18.00 to $14.00 and set a na rating on the stock in a research note on Tuesday, May 17th. Morgan Stanley lowered shares of GAP from an equal weight rating to an underweight rating and dropped their price objective for the stock from $13.00 to $8.00 in a research note on Friday. Credit Suisse Group dropped their price objective on shares of GAP from $16.00 to $13.00 and set a neutral rating on the stock in a research note on Friday, April 22nd. Finally, StockNews.com started coverage on shares of GAP in a report on Thursday, March 31st. They issued a hold rating for the company. Seven investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $14.14.

Shares of GAP stock opened at $11.60 on Friday. The company’s fifty day simple moving average is $13.01 and its two-hundred day simple moving average is $15.83. The firm has a market cap of $4.29 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 0.73 and a beta of 1.66. The company has a quick ratio of 0.53, a current ratio of 1.27 and a debt-to-equity ratio of 0.55. GAP has a 12-month low of $9.24 and a 12-month high of $35.14.

GAP (NYSE:GPS – Get Rating) last announced its earnings results on Thursday, May 26th. The apparel retailer reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.31). The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.49 billion. GAP had a net margin of 1.54% and a return on equity of 19.48%. The company’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 EPS. As a group, sell-side analysts expect that GAP will post 1.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $0.60 dividend on an annualized basis and a yield of 5.17%. GAP’s dividend payout ratio is currently 90.91%.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dodge & Cox boosted its position in shares of GAP by 6.0% during the fourth quarter. Dodge & Cox now owns 24,490,528 shares of the apparel retailer’s stock worth $432,258,000 after acquiring an additional 1,381,050 shares during the last quarter. Russell Investments Group Ltd. raised its stake in GAP by 600.2% during the fourth quarter. Russell Investments Group Ltd. now owns 899,727 shares of the apparel retailer’s stock valued at $15,877,000 after purchasing an additional 771,230 shares in the last quarter. Bank of New York Mellon Corp raised its stake in GAP by 15.3% during the first quarter. Bank of New York Mellon Corp now owns 3,138,643 shares of the apparel retailer’s stock valued at $44,192,000 after purchasing an additional 415,813 shares in the last quarter. American International Group Inc. raised its stake in GAP by 470.4% during the first quarter. American International Group Inc. now owns 360,438 shares of the apparel retailer’s stock valued at $5,075,000 after purchasing an additional 297,247 shares in the last quarter. Finally, FMR LLC raised its stake in GAP by 1,723.2% during the first quarter. FMR LLC now owns 251,986 shares of the apparel retailer’s stock valued at $6,597,000 after purchasing an additional 238,165 shares in the last quarter. Institutional investors and hedge funds own 58.23% of the company’s stock.

GAP Company Profile (Get Rating)

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, tees, fleece, and khakis; eyewear, jewelry, shoes, handbags, and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.

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