Analysts Set Gap Inc (GPS) Price Target at $32.71

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Gap Inc (NYSE:GPS) has been given a consensus rating of “Hold” by the thirty ratings firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $32.70.

Several equities research analysts have recently commented on GPS shares. Zacks Investment Research upgraded GAP from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Wedbush started coverage on GAP in a research note on Friday, August 10th. They set a “neutral” rating and a $32.00 price target for the company. Guggenheim restated a “hold” rating on shares of GAP in a research note on Friday, August 24th. B. Riley cut their price target on GAP from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, August 24th. Finally, JPMorgan Chase & Co. cut their price target on GAP from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, August 24th.

NYSE GPS traded down $0.35 on Monday, reaching $27.48. The stock had a trading volume of 3,586,012 shares, compared to its average volume of 4,979,289. The company has a current ratio of 1.96, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. GAP has a 12-month low of $25.27 and a 12-month high of $35.68. The stock has a market cap of $10.54 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.18 and a beta of 0.71.

GAP (NYSE:GPS) last issued its quarterly earnings data on Thursday, August 23rd. The apparel retailer reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.04. GAP had a return on equity of 29.25% and a net margin of 5.43%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the business earned $0.58 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, research analysts predict that GAP will post 2.58 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Wednesday, October 10th were issued a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date was Tuesday, October 9th. GAP’s dividend payout ratio is presently 45.54%.

Hedge funds have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in GAP during the third quarter worth $111,000. CSat Investment Advisory L.P. acquired a new stake in GAP in the second quarter valued at $148,000. Cornerstone Wealth Management LLC acquired a new stake in GAP in the third quarter valued at $204,000. Squar Milner Financial Services LLC acquired a new stake in GAP in the second quarter valued at $196,000. Finally, Titus Wealth Management acquired a new stake in GAP in the second quarter valued at $201,000. 57.95% of the stock is currently owned by hedge funds and other institutional investors.

GAP Company Profile

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, and Intermix 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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Analyst Recommendations for GAP (NYSE:GPS)

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