GAP (NYSE:GPS) had its target price lowered by analysts at Royal Bank of Canada from $20.00 to $19.00 in a note issued to investors on Wednesday, September 25th, The Fly reports. The firm currently has a “sector perform” rating on the apparel retailer’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 10.79% from the company’s current price.
Other analysts have also recently issued research reports about the stock. Wells Fargo & Co raised their price objective on shares of GAP from $18.00 to $24.00 and gave the company a “market perform” rating in a research note on Friday, September 13th. Argus reiterated a “hold” rating on shares of GAP in a research note on Tuesday, June 4th. Wedbush restated a “neutral” rating on shares of GAP in a report on Monday, August 19th. MKM Partners set a $18.00 target price on shares of GAP and gave the company a “hold” rating in a report on Friday, September 13th. Finally, Telsey Advisory Group raised their target price on shares of GAP from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $23.39.
Shares of GPS stock traded up $0.50 during mid-day trading on Wednesday, hitting $17.15. The stock had a trading volume of 8,015,573 shares, compared to its average volume of 6,131,976. GAP has a fifty-two week low of $15.11 and a fifty-two week high of $31.39. The firm has a market cap of $6.11 billion, a PE ratio of 6.62, a PEG ratio of 0.88 and a beta of 0.70. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.46 and a quick ratio of 0.72. The company’s 50-day simple moving average is $17.03 and its 200-day simple moving average is $20.05.
GAP (NYSE:GPS) last released its earnings results on Thursday, August 22nd. The apparel retailer reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.11. GAP had a net margin of 5.71% and a return on equity of 24.53%. The company had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the business earned $0.76 EPS. The business’s revenue was down 2.0% on a year-over-year basis. On average, analysts expect that GAP will post 2.06 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the business. Bremer Bank National Association acquired a new position in shares of GAP during the first quarter worth $29,000. Atlas Capital Advisors LLC acquired a new stake in GAP in the second quarter valued at $52,000. Cerebellum GP LLC acquired a new stake in GAP in the third quarter valued at $130,000. ETF Managers Group LLC acquired a new stake in GAP in the second quarter valued at $128,000. Finally, FNY Investment Advisers LLC acquired a new stake in GAP in the second quarter valued at $158,000. 59.90% of the stock is currently owned by hedge funds and other institutional investors.
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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