The Gap, Inc. (NYSE:GPS) Given Consensus Recommendation of “Hold” by Brokerages

Posted by Defense World Staff on May 13th, 2023

The Gap, Inc. (NYSE:GPS – Get Rating) has received an average rating of “Hold” from the nineteen ratings firms that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $11.06.

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on GAP from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Friday, March 10th. Citigroup increased their target price on shares of GAP from $8.00 to $10.00 and gave the stock a “sell” rating in a report on Friday, February 24th. Barclays decreased their price target on shares of GAP from $11.00 to $10.00 in a report on Tuesday, May 2nd. Morgan Stanley upgraded shares of GAP from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, January 18th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $15.00 target price on shares of GAP in a research note on Monday, March 6th.

GAP Stock Down 4.0 %

GPS stock opened at $7.90 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.68 and a debt-to-equity ratio of 0.82. The firm has a 50 day simple moving average of $9.57 and a 200-day simple moving average of $11.77. The company has a market capitalization of $2.89 billion, a P/E ratio of -14.36, a PEG ratio of 1.18 and a beta of 1.91. GAP has a twelve month low of $7.79 and a twelve month high of $15.49.

GAP (NYSE:GPS – Get Rating) last released its earnings results on Thursday, March 9th. The apparel retailer reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.16). GAP had a negative return on equity of 6.07% and a negative net margin of 1.29%. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the previous year, the firm posted ($0.02) EPS. GAP’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts predict that GAP will post 0.61 earnings per share for the current fiscal year.

GAP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Wednesday, July 5th will be given a $0.15 dividend. The ex-dividend date is Monday, July 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 7.59%. GAP’s dividend payout ratio is presently -109.09%.

Insider Transactions at GAP

In related news, CEO Mark Breitbard sold 22,918 shares of the business’s stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $8.78, for a total transaction of $201,220.04. Following the sale, the chief executive officer now owns 123,985 shares of the company’s stock, valued at $1,088,588.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 31,209 shares of company stock valued at $282,671. Company insiders own 30.81% of the company’s stock.

Institutional Investors Weigh In On GAP

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in shares of GAP by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,122,321 shares of the apparel retailer’s stock worth $25,633,000 after purchasing an additional 40,348 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of GAP by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 2,808,064 shares of the apparel retailer’s stock valued at $31,674,000 after buying an additional 124,677 shares in the last quarter. Towle & Co lifted its position in shares of 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 acquiring an additional 2,610,230 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of GAP during the 4th quarter worth $20,617,000. Finally, BNP Paribas Arbitrage SNC grew its holdings in shares of GAP by 57.0% in the 1st quarter. BNP Paribas Arbitrage SNC now owns 1,325,293 shares of the apparel retailer’s stock worth $13,306,000 after acquiring an additional 481,339 shares during the last quarter. 57.72% of the stock is currently owned by institutional investors.

GAP Company Profile

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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.