TD Cowen Upgrades GAP (NYSE:GPS) to “Buy”

TD Cowen upgraded shares of GAP (NYSE:GPS) from a hold rating to a buy rating in a research report released on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has $30.00 price objective on the apparel retailer’s stock, up from their previous price objective of $28.00.

GPS has been the topic of several other research reports. JPMorgan Chase & Co. raised their price target on shares of GAP from $20.00 to $27.00 and gave the company a neutral rating in a research note on Friday, May 31st. Cowen boosted their target price on GAP from $19.00 to $21.00 and gave the stock a market perform rating in a report on Friday, March 22nd. Wells Fargo & Company upped their target price on GAP from $24.00 to $25.00 and gave the stock an overweight rating in a research report on Friday, March 22nd. BMO Capital Markets lifted their price target on GAP from $18.00 to $23.00 and gave the company a market perform rating in a research report on Friday, May 31st. Finally, Citigroup raised GAP from a neutral rating to a buy rating and raised their target price for the company from $21.00 to $28.00 in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $25.98.

GAP Stock Down 0.7 %

NYSE:GPS opened at $23.87 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 0.80 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average of $23.23 and a 200-day moving average of $22.11. The firm has a market capitalization of $8.95 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 4.16 and a beta of 2.35. GAP has a 52 week low of $8.58 and a 52 week high of $30.75.

GAP (NYSE:GPS) last issued its earnings results on Thursday, May 30th. The apparel retailer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.27. GAP had a return on equity of 27.57% and a net margin of 4.52%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the company earned $0.01 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts predict that GAP will post 1.74 EPS for the current year.

GAP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, July 10th. GAP’s dividend payout ratio is currently 33.33%.

Insider Buying and Selling at GAP

In related news, CFO Katrina O’connell sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $29.01, for a total transaction of $580,200.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 30.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Plato Investment Management Ltd increased its stake in shares of GAP by 37.2% during the 1st quarter. Plato Investment Management Ltd now owns 1,965 shares of the apparel retailer’s stock worth $54,000 after purchasing an additional 533 shares during the last quarter. GAMMA Investing LLC bought a new position in GAP during the fourth quarter valued at about $42,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of GAP in the fourth quarter worth about $73,000. SVB Wealth LLC bought a new stake in shares of GAP during the 1st quarter worth about $207,000. Finally, VitalStone Financial LLC acquired a new position in shares of GAP during the 4th quarter valued at about $197,000. Hedge funds and other institutional investors own 58.81% of the company’s stock.

About GAP

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 adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.