GAP (NYSE:GAP) Rating Lowered to Equal Weight at Wells Fargo & Company

GAP (NYSE:GAP) was downgraded by research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They presently have a $24.00 price objective on the stock, down from their previous price objective of $30.00. Wells Fargo & Company‘s target price indicates a potential upside of 8.92% from the company’s previous close.

GAP has been the subject of several other research reports. JPMorgan Chase & Co. decreased their target price on GAP from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. UBS Group dropped their target price on shares of GAP from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Citigroup reduced their target price on shares of GAP from $32.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Barclays upped their price target on GAP from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $26.00 price objective on shares of GAP in a research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.64.

GAP Trading Up 0.6 %

NYSE:GAP opened at $22.04 on Wednesday. GAP has a 1 year low of $16.99 and a 1 year high of $26.41. The business has a fifty day moving average of $20.45 and a 200-day moving average of $22.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.54. The stock has a market cap of $8.30 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.94 and a beta of 2.15.

GAP (NYSE:GAP) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.18. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.07 billion. GAP had a net margin of 5.40% and a return on equity of 29.03%. Equities analysts predict that GAP will post 2.02 earnings per share for the current year.

Insider Transactions at GAP

In related news, CFO Katrina O’connell sold 80,029 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $20.35, for a total value of $1,628,590.15. Following the completion of the sale, the chief financial officer now owns 8,290 shares of the company’s stock, valued at approximately $168,701.50. The trade was a 90.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Horacio Barbeito sold 40,764 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $20.07, for a total transaction of $818,133.48. Following the transaction, the chief executive officer now directly owns 308 shares in the company, valued at approximately $6,181.56. The trade was a 99.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,495 shares of company stock valued at $3,598,459. 31.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GAP. Hexagon Capital Partners LLC bought a new stake in GAP in the first quarter worth $30,000. First Horizon Advisors Inc. bought a new stake in shares of GAP during the 1st quarter worth about $75,000. Deseret Mutual Benefit Administrators bought a new position in shares of GAP in the 1st quarter valued at approximately $81,000. FNY Investment Advisers LLC acquired a new stake in GAP in the 1st quarter worth approximately $91,000. Finally, GAMMA Investing LLC bought a new stake in GAP during the first quarter worth approximately $96,000. Institutional investors and hedge funds own 58.81% of the company’s stock.

GAP Company Profile

Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.