Citigroup Lowers GAP (NYSE:GPS) Price Target to $7.00

GAP (NYSE:GPSGet Rating) had its price objective lowered by stock analysts at Citigroup from $8.00 to $7.00 in a report issued on Friday, The Fly reports. Citigroup’s price objective would indicate a potential downside of 37.05% from the stock’s current price.

A number of other brokerages also recently weighed in on GPS. Robert W. Baird lowered their price target on GAP from $18.00 to $14.00 in a report on Friday, April 22nd. Guggenheim upgraded shares of GAP from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Monday, April 25th. Zacks Investment Research downgraded shares of GAP from a “hold” rating to a “strong sell” rating and set a $11.00 price objective for the company. in a research report on Wednesday, May 4th. Bank of America cut shares of GAP from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $26.00 to $14.00 in a report on Tuesday, February 15th. Finally, StockNews.com assumed coverage on GAP in a report on Thursday, March 31st. They set a “hold” rating for the company. Seven research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.51.

GPS opened at $11.12 on Friday. GAP has a twelve month low of $9.24 and a twelve month high of $35.35. The company has a current ratio of 1.27, a quick ratio of 0.53 and a debt-to-equity ratio of 0.55. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 0.73 and a beta of 1.66. The company has a fifty day simple moving average of $13.09 and a 200 day simple moving average of $15.93.

GAP (NYSE:GPSGet Rating) last issued its quarterly earnings data on Thursday, May 26th. The apparel retailer reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.31). The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.49 billion. GAP had a net margin of 1.54% and a return on equity of 19.48%. GAP’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 EPS. On average, analysts forecast that GAP will post 1.28 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the stock. Dodge & Cox lifted its position in GAP by 6.0% in the 4th quarter. Dodge & Cox now owns 24,490,528 shares of the apparel retailer’s stock worth $432,258,000 after buying an additional 1,381,050 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of GAP by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 3,858,043 shares of the apparel retailer’s stock worth $67,991,000 after acquiring an additional 104,716 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of GAP by 15.3% during the first quarter. Bank of New York Mellon Corp now owns 3,138,643 shares of the apparel retailer’s stock worth $44,192,000 after acquiring an additional 415,813 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in GAP by 6.3% during the fourth quarter. Parametric Portfolio Associates LLC now owns 1,813,988 shares of the apparel retailer’s stock valued at $32,017,000 after purchasing an additional 106,730 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in GAP by 600.2% in the fourth quarter. Russell Investments Group Ltd. now owns 899,727 shares of the apparel retailer’s stock valued at $15,877,000 after purchasing an additional 771,230 shares in the last quarter. Institutional investors and hedge funds own 58.23% 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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