Citigroup Boosts GAP (NYSE:GPS) Price Target to $8.00

GAP (NYSE:GPSGet Rating) had its price objective upped by Citigroup from $7.00 to $8.00 in a research note published on Friday morning, The Fly reports. They currently have a sell rating on the apparel retailer’s stock.

Several other equities analysts also recently weighed in on the company. Barclays raised GAP from an underweight rating to an equal weight rating and boosted their target price for the company from $6.00 to $9.00 in a research report on Tuesday, August 30th. Cowen cut their target price on GAP from $12.00 to $10.00 and set a market perform rating on the stock in a research report on Wednesday, August 31st. Morgan Stanley boosted their target price on GAP from $7.50 to $8.00 and gave the company an underweight rating in a research report on Friday, August 26th. Cowen cut their target price on GAP from $12.00 to $10.00 and set a market perform rating on the stock in a research report on Wednesday, August 31st. Finally, StockNews.com downgraded GAP from a hold rating to a sell rating in a research report on Friday, November 4th. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, GAP presently has a consensus rating of Hold and an average price target of $10.62.

GAP Stock Performance

NYSE:GPS opened at $12.33 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.37 and a quick ratio of 0.50. GAP has a 1 year low of $7.79 and a 1 year high of $25.65. The stock’s 50 day simple moving average is $9.95 and its two-hundred day simple moving average is $10.04. The company has a market cap of $4.48 billion, a price-to-earnings ratio of -12.21 and a beta of 1.80.

GAP (NYSE:GPSGet Rating) last released its quarterly earnings data on Thursday, August 25th. The apparel retailer reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.12. GAP had a negative return on equity of 1.48% and a negative net margin of 2.40%. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the company posted $0.70 EPS. The company’s revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that GAP will post -0.28 earnings per share for the current fiscal year.

GAP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date is Tuesday, January 3rd. GAP’s dividend payout ratio (DPR) is currently -59.41%.

Insider Activity at GAP

In related news, CEO Mary Beth Laughton sold 11,030 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $11.28, for a total transaction of $124,418.40. Following the transaction, the chief executive officer now directly owns 31,561 shares of the company’s stock, valued at approximately $356,008.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 44.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Towle & Co increased its position in GAP by 9,453.9% during the 3rd quarter. Towle & Co now owns 2,637,840 shares of the apparel retailer’s stock valued at $21,657,000 after buying an additional 2,610,230 shares in the last quarter. Citizens Financial Group Inc RI acquired a new position in shares of GAP in the third quarter valued at about $154,000. California Public Employees Retirement System increased its holdings in shares of GAP by 1.3% in the third quarter. California Public Employees Retirement System now owns 424,674 shares of the apparel retailer’s stock valued at $3,487,000 after purchasing an additional 5,342 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of GAP by 35.4% in the third quarter. Nisa Investment Advisors LLC now owns 64,060 shares of the apparel retailer’s stock valued at $559,000 after purchasing an additional 16,760 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of GAP by 2.3% in the third quarter. Russell Investments Group Ltd. now owns 53,690 shares of the apparel retailer’s stock valued at $438,000 after purchasing an additional 1,188 shares during the period. 57.46% of the stock is owned by institutional investors and hedge funds.

About GAP

(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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