Credit Suisse Group Initiates Coverage on GAP (NYSE:GPS)

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Analysts at Credit Suisse Group initiated coverage on shares of GAP (NYSE:GPS) in a report released on Monday, March 12th, Marketbeat reports. The brokerage set a “neutral” rating and a $35.00 price target on the apparel retailer’s stock. Credit Suisse Group’s price objective suggests a potential upside of 12.18% from the company’s previous close.

Several other analysts also recently issued reports on the company. Barclays raised their price target on GAP from $34.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. TheStreet downgraded GAP from a “b” rating to a “c+” rating in a report on Monday, November 13th. KeyCorp reissued an “overweight” rating on shares of GAP in a report on Friday, November 17th. Zacks Investment Research downgraded GAP from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Finally, Royal Bank of Canada raised their price target on GAP from $26.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, November 17th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. GAP currently has a consensus rating of “Hold” and an average price target of $31.99.

NYSE:GPS opened at $31.20 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.04 and a current ratio of 1.86. GAP has a 52 week low of $21.02 and a 52 week high of $35.68. The company has a market cap of $12,020.10, a price-to-earnings ratio of 14.51, a PEG ratio of 1.47 and a beta of 0.88.

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

In related news, Director Brian Goldner bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were acquired at an average cost of $33.75 per share, for a total transaction of $168,750.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $168,750. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Brent Hyder sold 5,839 shares of GAP stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $33.04, for a total value of $192,920.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,275,756 shares of company stock worth $42,361,835. 27.30% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Chevy Chase Trust Holdings Inc. grew its holdings in shares of GAP by 1.0% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 192,812 shares of the apparel retailer’s stock worth $5,694,000 after acquiring an additional 1,902 shares during the last quarter. Hermes Investment Management Ltd. grew its holdings in shares of GAP by 7.3% in the 4th quarter. Hermes Investment Management Ltd. now owns 29,252 shares of the apparel retailer’s stock worth $996,000 after acquiring an additional 2,000 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of GAP by 0.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 728,655 shares of the apparel retailer’s stock worth $21,517,000 after acquiring an additional 2,093 shares during the last quarter. Acropolis Investment Management LLC grew its holdings in shares of GAP by 115.4% in the 4th quarter. Acropolis Investment Management LLC now owns 4,185 shares of the apparel retailer’s stock worth $143,000 after acquiring an additional 2,242 shares during the last quarter. Finally, Piedmont Investment Advisors LLC grew its holdings in shares of GAP by 1.9% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 125,492 shares of the apparel retailer’s stock worth $3,706,000 after acquiring an additional 2,357 shares during the last quarter. Institutional investors and hedge funds own 58.30% of the company’s stock.

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GAP Company Profile

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)

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