GAP (GPS) Given New $42.00 Price Target at Barclays

GAP (NYSE:GPS) had its target price raised by equities researchers at Barclays from $21.00 to $42.00 in a report issued on Friday, March 2nd, MarketBeat.com reports. The brokerage presently has an “overweight” rating on the apparel retailer’s stock. Barclays’ target price indicates a potential upside of 37.61% from the stock’s previous close.

Several other analysts have also commented on the stock. TheStreet lowered shares of GAP from a “b” rating to a “c+” rating in a report on Monday, November 13th. KeyCorp restated an “overweight” rating on shares of GAP in a report on Friday, November 17th. Zacks Investment Research downgraded shares of GAP from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Royal Bank of Canada raised their target price on shares of GAP from $26.00 to $28.00 and gave the company a “sector perform” rating in a research note on Friday, November 17th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of GAP in a research note on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. GAP has a consensus rating of “Hold” and a consensus price target of $31.99.

How to Become a New Pot Stock Millionaire

GAP (NYSE:GPS) opened at $30.52 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.04 and a current ratio of 1.86. The stock has a market capitalization of $12,074.56, a PE ratio of 14.26, a PEG ratio of 1.48 and a beta of 0.88. GAP has a 12 month low of $21.02 and a 12 month high of $35.68.

GAP (NYSE:GPS) last posted its earnings results on Thursday, March 1st. The apparel retailer reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.68 billion. GAP had a net margin of 5.35% and a return on equity of 28.13%. GAP’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. sell-side analysts anticipate that GAP will post 2.63 EPS for the current fiscal year.

In other GAP news, CEO Jeff Kirwan sold 101,820 shares of the business’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $33.73, for a total value of $3,434,388.60. Following the sale, the chief executive officer now owns 101,820 shares in the company, valued at approximately $3,434,388.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder John J. Fisher sold 500,000 shares of the business’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $34.43, for a total transaction of $17,215,000.00. Following the completion of the sale, the insider now owns 2,319,396 shares in the company, valued at approximately $79,856,804.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,275,756 shares of company stock worth $42,361,835. 27.30% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. bought a new stake in shares of GAP in the 4th quarter worth about $85,153,000. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of GAP by 305.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,624,032 shares of the apparel retailer’s stock worth $77,488,000 after buying an additional 1,976,200 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of GAP in the 4th quarter worth about $56,689,000. TIAA CREF Investment Management LLC increased its holdings in shares of GAP by 32.5% in the 4th quarter. TIAA CREF Investment Management LLC now owns 5,231,621 shares of the apparel retailer’s stock worth $178,189,000 after buying an additional 1,283,314 shares during the last quarter. Finally, American International Group Inc. increased its holdings in shares of GAP by 6.9% in the 4th quarter. American International Group Inc. now owns 17,739,940 shares of the apparel retailer’s stock worth $604,222,000 after buying an additional 1,142,639 shares during the last quarter. Institutional investors and hedge funds own 58.30% of the company’s stock.

WARNING: “GAP (GPS) Given New $42.00 Price Target at Barclays” was originally reported by BBNS and is the property of of BBNS. If you are reading this news story on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this news story can be viewed at https://baseballnewssource.com/2018/03/28/barclays-increases-gap-gps-price-target-to-42-00/1964504.html.

About GAP

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.

Analyst Recommendations for GAP (NYSE:GPS)

Receive News & Ratings for GAP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GAP and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Red Sox Tie Record for Best Start After 17 Games
Red Sox Tie Record for Best Start After 17 Games
Bryce Harper Hits 406-Foot Home Run While Breaking His Bat
Bryce Harper Hits 406-Foot Home Run While Breaking His Bat
Rick Porcello’s Strong Start Gives Boost to Red Sox
Rick Porcello’s Strong Start Gives Boost to Red Sox
Two Bench Clearing Incidents Revive Red Sox-Yankees Rivalry
Two Bench Clearing Incidents Revive Red Sox-Yankees Rivalry
Xander Bogaerts Goes on Red Sox DL
Xander Bogaerts Goes on Red Sox DL
Ohtani Goes Deep in Third Straight Game for Angels
Ohtani Goes Deep in Third Straight Game for Angels


Leave a Reply

 
© 2006-2018 BBNS.