Vetr lowered shares of Gap Inc. (NYSE:GPS) from a strong-buy rating to a sell rating in a research note released on Monday. The firm currently has $25.20 price objective on the apparel retailer’s stock.
A number of other research firms also recently commented on GPS. Royal Bank Of Canada reaffirmed a hold rating on shares of Gap in a report on Saturday, July 9th. Jefferies Group reiterated a buy rating on shares of Gap in a research report on Saturday, July 9th. RBC Capital Markets set a $23.00 price target on Gap and gave the company a hold rating in a research report on Tuesday, September 13th. Wedbush lifted their price target on Gap from $20.00 to $25.00 and gave the company a neutral rating in a research report on Friday, August 19th. Finally, FBR & Co reiterated a market perform rating and set a $22.00 price target on shares of Gap in a research report on Wednesday, July 6th. Six research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $25.29.
Gap (NYSE:GPS) opened at 26.54 on Monday. The company has a market capitalization of $10.58 billion, a P/E ratio of 14.95 and a beta of 1.28. Gap has a 1-year low of $17.00 and a 1-year high of $30.49. The firm has a 50-day moving average price of $23.85 and a 200 day moving average price of $23.02.
Gap (NYSE:GPS) last released its earnings results on Thursday, August 18th. The apparel retailer reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.01. Gap had a return on equity of 33.26% and a net margin of 4.60%. The firm earned $3.85 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue was down 1.2% compared to the same quarter last year. On average, equities analysts predict that Gap will post ($0.01) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a dividend of $0.23 per share. The ex-dividend date is Monday, October 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 3.47%. Gap’s payout ratio is 51.98%.
A number of hedge funds have recently bought and sold shares of GPS. Vanguard Group Inc. increased its position in shares of Gap by 2.3% in the second quarter. Vanguard Group Inc. now owns 20,061,541 shares of the apparel retailer’s stock worth $425,706,000 after buying an additional 444,555 shares during the period. American International Group Inc. increased its position in shares of Gap by 3.5% in the second quarter. American International Group Inc. now owns 14,381,188 shares of the apparel retailer’s stock worth $305,169,000 after buying an additional 483,879 shares during the period. Bank of New York Mellon Corp increased its position in shares of Gap by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 14,135,669 shares of the apparel retailer’s stock worth $299,958,000 after buying an additional 251,964 shares during the period. JPMorgan Chase & Co. increased its position in shares of Gap by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 13,531,075 shares of the apparel retailer’s stock worth $287,129,000 after buying an additional 936,648 shares during the period. Finally, State Street Corp increased its position in shares of Gap by 1.3% in the first quarter. State Street Corp now owns 10,878,900 shares of the apparel retailer’s stock worth $319,845,000 after buying an additional 140,396 shares during the period. 57.42% of the stock is owned by institutional investors.
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Gap Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gap Inc. and related companies with MarketBeat.com's FREE daily email newsletter.