GAP (GPS) Downgraded by Barclays

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Barclays lowered shares of GAP (NYSE:GPS) from an overweight rating to an underweight rating in a research report released on Friday morning, MarketBeat Ratings reports. They currently have $25.25 target price on the apparel retailer’s stock.

A number of other brokerages also recently weighed in on GPS. B. Riley reiterated a neutral rating on shares of GAP in a report on Wednesday, November 7th. Royal Bank of Canada dropped their target price on GAP to $30.00 and set a positive rating on the stock in a report on Thursday, November 1st. ValuEngine downgraded GAP from a hold rating to a sell rating in a report on Thursday, November 1st. JPMorgan Chase & Co. downgraded GAP from a neutral rating to an underweight rating and dropped their target price for the company from $30.00 to $24.00 in a report on Thursday, October 18th. Finally, MKM Partners dropped their target price on GAP to $30.00 and set a neutral rating on the stock in a report on Wednesday, November 28th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $30.97.

NYSE GPS opened at $25.24 on Friday. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 1.13 and a beta of 0.67. GAP has a 1 year low of $24.25 and a 1 year high of $35.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 1.97.

GAP (NYSE:GPS) last issued its earnings results on Tuesday, November 20th. The apparel retailer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4 billion. GAP had a return on equity of 29.45% and a net margin of 5.57%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. On average, sell-side analysts expect that GAP will post 2.56 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Wednesday, January 9th will be issued a $0.2425 dividend. The ex-dividend date is Tuesday, January 8th. This represents a $0.97 dividend on an annualized basis and a yield of 3.84%. GAP’s dividend payout ratio is currently 45.54%.

A number of large investors have recently added to or reduced their stakes in GPS. AQR Capital Management LLC increased its holdings in GAP by 456.0% in the third quarter. AQR Capital Management LLC now owns 9,883,253 shares of the apparel retailer’s stock worth $285,132,000 after buying an additional 8,105,713 shares during the last quarter. Vanguard Group Inc. increased its holdings in GAP by 5.4% in the third quarter. Vanguard Group Inc. now owns 27,822,458 shares of the apparel retailer’s stock worth $802,678,000 after buying an additional 1,433,737 shares during the last quarter. Vanguard Group Inc increased its holdings in GAP by 5.4% in the third quarter. Vanguard Group Inc now owns 27,822,458 shares of the apparel retailer’s stock worth $802,678,000 after buying an additional 1,433,737 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in GAP by 5.9% in the third quarter. Bank of New York Mellon Corp now owns 12,602,613 shares of the apparel retailer’s stock worth $363,586,000 after buying an additional 701,959 shares during the last quarter. Finally, SPX Equities Gestao de Recursos Ltda bought a new stake in GAP during the third quarter worth approximately $20,206,136,100,000. Hedge funds and other institutional investors own 56.53% of the company’s stock.

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.

Read More: Intrinsic Value and Stock Selection

Analyst Recommendations for GAP (NYSE:GPS)

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