The Goldman Sachs Group Trims GAP (NYSE:GPS) Target Price to $14.00

GAP (NYSE:GPS – Get Rating) had its price target cut by stock analysts at The Goldman Sachs Group from $20.00 to $14.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the apparel retailer’s stock. The Goldman Sachs Group’s price target points to a potential upside of 20.90% from the company’s current price.

Several other research firms also recently issued reports on GPS. B. Riley cut their price objective on GAP from $15.00 to $13.00 in a report on Friday. Credit Suisse Group dropped their target price on GAP from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday. JPMorgan Chase & Co. upped their target price on GAP from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, March 4th. Wells Fargo & Company dropped their target price on GAP from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, April 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on GAP from $26.00 to $17.00 and set a “buy” rating on the stock in a report on Friday. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.93.

NYSE GPS traded down $2.71 on Friday, reaching $11.58. The company’s stock had a trading volume of 594,103 shares, compared to its average volume of 10,280,832. GAP has a twelve month low of $12.78 and a twelve month high of $37.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.53 and a current ratio of 1.27. The stock has a market cap of $4.28 billion, a PE ratio of 17.50, a PEG ratio of 0.62 and a beta of 1.70. The firm’s 50 day moving average is $14.37 and its two-hundred day moving average is $17.86.

GAP (NYSE:GPS – Get Rating) last issued its quarterly earnings results on Thursday, March 3rd. The apparel retailer reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.12. GAP had a net margin of 1.54% and a return on equity of 19.48%. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the prior year, the company earned $0.28 EPS. GAP’s revenue was up 2.3% on a year-over-year basis. Equities research analysts anticipate that GAP will post 1.9 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank increased its position in shares of GAP by 279.3% during the 3rd quarter. Toronto Dominion Bank now owns 261,262 shares of the apparel retailer’s stock worth $5,931,000 after purchasing an additional 192,384 shares in the last quarter. Russell Investments Group Ltd. increased its position in GAP by 600.2% in the 4th quarter. Russell Investments Group Ltd. now owns 899,727 shares of the apparel retailer’s stock valued at $15,877,000 after acquiring an additional 771,230 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in GAP by 50.9% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,792 shares of the apparel retailer’s stock valued at $49,000 after acquiring an additional 942 shares in the last quarter. Geode Capital Management LLC increased its position in GAP by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,753,327 shares of the apparel retailer’s stock valued at $85,061,000 after acquiring an additional 190,085 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in GAP in the 3rd quarter valued at about $94,000. Institutional investors and hedge funds own 58.29% of the company’s stock.

GAP Company Profile (Get Rating)

The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include denim, tees, fleece, and khakis; eyewear, jewelry, shoes, handbags, and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.

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