GAP (NYSE:GPS) had its target price lifted by stock analysts at Deutsche Bank from $13.00 to $15.00 in a report issued on Monday, The Fly reports. The firm presently has a “hold” rating on the apparel retailer’s stock. Deutsche Bank’s target price would suggest a potential upside of 18.86% from the stock’s current price.
Several other brokerages have also recently commented on GPS. Robert W. Baird lowered their price target on shares of GAP from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. BMO Capital Markets lowered their price target on shares of GAP from $18.00 to $15.00 and set a “market perform” rating for the company in a research report on Friday, March 13th. ValuEngine upgraded shares of GAP from a “hold” rating to a “buy” rating in a research report on Sunday, June 7th. UBS Group lifted their price target on shares of GAP from $8.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Finally, MKM Partners boosted their price objective on shares of GAP from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company. GAP has an average rating of “Hold” and a consensus price target of $12.06.
GPS opened at $12.62 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.58 and a debt-to-equity ratio of 2.84. The stock has a market capitalization of $4.51 billion, a PE ratio of -5.76 and a beta of 1.46. GAP has a 1-year low of $5.26 and a 1-year high of $19.86. The firm has a 50-day moving average price of $9.97 and a two-hundred day moving average price of $12.60.
GAP (NYSE:GPS) last issued its quarterly earnings results on Thursday, June 4th. The apparel retailer reported ($2.51) EPS for the quarter, missing the consensus estimate of ($0.67) by ($1.84). GAP had a negative return on equity of 8.63% and a negative net margin of 5.47%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The firm’s quarterly revenue was down 43.1% compared to the same quarter last year. On average, research analysts predict that GAP will post -2.31 EPS for the current year.
In related news, insider John Strain purchased 5,500 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $12.84 per share, with a total value of $70,620.00. Following the completion of the purchase, the insider now owns 7,005 shares in the company, valued at approximately $89,944.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 45.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in shares of GAP by 488.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,054,300 shares of the apparel retailer’s stock worth $18,640,000 after purchasing an additional 875,100 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of GAP by 14.9% in the first quarter. Franklin Resources Inc. now owns 171,952 shares of the apparel retailer’s stock worth $1,211,000 after purchasing an additional 22,339 shares in the last quarter. State Street Corp lifted its position in shares of GAP by 13.5% in the first quarter. State Street Corp now owns 13,339,983 shares of the apparel retailer’s stock worth $93,913,000 after purchasing an additional 1,591,094 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of GAP by 71.8% in the first quarter. Parametric Portfolio Associates LLC now owns 1,840,689 shares of the apparel retailer’s stock worth $12,958,000 after purchasing an additional 769,172 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of GAP by 1.9% in the first quarter. Legal & General Group Plc now owns 2,026,382 shares of the apparel retailer’s stock worth $14,284,000 after purchasing an additional 38,520 shares in the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.
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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