GAP (NYSE:GPS) PT Raised to $13.00

GAP (NYSE:GPSGet Rating) had its price target hoisted by research analysts at Jefferies Financial Group from $11.00 to $13.00 in a research report issued on Friday, The Fly reports. Jefferies Financial Group’s target price points to a potential downside of 4.90% from the company’s previous close. Jefferies Financial Group also issued estimates for GAP’s Q2 2024 earnings at $0.19 EPS.

A number of other brokerages have also commented on GPS. Cowen decreased their price objective on GAP from $12.00 to $10.00 and set a “market perform” rating on the stock in a report on Wednesday, August 31st. StockNews.com lowered GAP from a “hold” rating to a “sell” rating in a report on Friday, November 4th. JPMorgan Chase & Co. upped their price objective on GAP from $8.00 to $9.00 in a report on Friday, September 16th. Telsey Advisory Group upped their price objective on GAP from $10.00 to $15.00 and gave the company a “market perform” rating in a report on Friday. Finally, Wells Fargo & Company upped their price objective on GAP from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.09.

GAP Trading Up 7.6 %

Shares of GAP stock opened at $13.67 on Friday. GAP has a 12-month low of $7.79 and a 12-month high of $24.94. The stock has a market cap of $4.97 billion, a P/E ratio of 85.44 and a beta of 1.80. The company has a quick ratio of 0.50, a current ratio of 1.37 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $10.21 and its 200-day moving average is $10.05.

GAP (NYSE:GPSGet Rating) last posted its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.70. GAP had a return on equity of 4.81% and a net margin of 0.35%. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the prior year, the business earned $0.27 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts predict that GAP will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at GAP

In other GAP news, CEO Mary Beth Laughton sold 11,030 shares of the stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $11.28, for a total value of $124,418.40. Following the completion of the transaction, the chief executive officer now directly owns 31,561 shares in the company, valued at $356,008.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 44.19% of the company’s stock.

Hedge Funds Weigh In On GAP

Several large investors have recently bought and sold shares of GPS. Sumitomo Mitsui Trust Holdings Inc. bought a new position in GAP in the first quarter valued at about $146,000. Nisa Investment Advisors LLC raised its position in shares of GAP by 48.6% during the first quarter. Nisa Investment Advisors LLC now owns 60,540 shares of the apparel retailer’s stock worth $852,000 after acquiring an additional 19,790 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of GAP by 18.4% during the first quarter. New York State Common Retirement Fund now owns 324,280 shares of the apparel retailer’s stock worth $4,566,000 after acquiring an additional 50,463 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of GAP during the first quarter worth about $348,000. Finally, Bank of New York Mellon Corp raised its position 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 during the last quarter. 57.46% of the stock is currently owned by institutional investors.

About GAP

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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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