GAP (NYSE:GAP) Upgraded at Wall Street Zen
by Michael Walen · The Markets DailyWall Street Zen upgraded shares of GAP (NYSE:GAP – Free Report) from a hold rating to a buy rating in a research report released on Friday morning.
GAP has been the subject of a number of other research reports. The Goldman Sachs Group raised their price target on shares of GAP from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. BTIG Research increased their price objective on shares of GAP from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Barclays downgraded GAP from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $24.00 to $19.00 in a research report on Friday, August 22nd. Zacks Research upgraded shares of GAP from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of GAP in a research report on Monday, November 24th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.57.
Check Out Our Latest Stock Analysis on GAP
GAP Stock Down 1.8%
GAP opened at $27.05 on Friday. The company has a market capitalization of $10.06 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 2.70 and a beta of 2.17. The business has a 50-day moving average of $22.96 and a 200-day moving average of $22.57. GAP has a fifty-two week low of $16.99 and a fifty-two week high of $29.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.68 and a quick ratio of 0.96.
GAP (NYSE:GAP – Get Free Report) last posted its quarterly earnings data on Tuesday, November 25th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. GAP had a net margin of 5.86% and a return on equity of 27.04%. GAP’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. Equities research analysts forecast that GAP will post 2.02 EPS for the current fiscal year.
GAP Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 7th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, January 7th. GAP’s dividend payout ratio is 29.46%.
Insider Activity
In other news, Director Elisabeth B. Donohue sold 3,000 shares of GAP stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $27.11, for a total value of $81,330.00. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $27,110. The trade was a 75.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert J. Fisher sold 500,000 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $22.90, for a total value of $11,450,000.00. Following the completion of the sale, the director owned 2,829,502 shares of the company’s stock, valued at approximately $64,795,595.80. This trade represents a 15.02% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,008,137 shares of company stock worth $23,769,085. Company insiders own 30.56% of the company’s stock.
Institutional Investors Weigh In On GAP
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in GAP in the third quarter worth $27,000. Cornerstone Planning Group LLC purchased a new position in shares of GAP in the 3rd quarter worth about $35,000. Brooklyn Investment Group bought a new position in GAP in the 1st quarter worth about $80,000. Covestor Ltd bought a new position in GAP in the 1st quarter worth about $82,000. Finally, Plato Investment Management Ltd purchased a new stake in GAP during the 1st quarter valued at about $121,000. 58.81% of the stock is owned by hedge funds and other institutional investors.
About GAP
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.
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