GAP (NYSE:GPS) Given Market Perform Rating at Telsey Advisory Group

GAP (NYSE:GPS)‘s stock had its “market perform” rating reaffirmed by stock analysts at Telsey Advisory Group in a research note issued to investors on Monday, MarketBeat.com reports. They presently have a $17.00 price objective on the apparel retailer’s stock, up from their previous price objective of $11.00. Telsey Advisory Group’s price target indicates a potential upside of 24.36% from the stock’s current price.

A number of other equities research analysts have also recently commented on GPS. Evercore ISI began coverage on GAP in a report on Tuesday, November 7th. They set an “outperform” rating and a $17.00 price target on the stock. StockNews.com began coverage on GAP in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Bank of America lifted their price objective on shares of GAP from $8.50 to $9.00 and gave the company an “underperform” rating in a research report on Friday, August 25th. Guggenheim reiterated a “buy” rating and issued a $18.00 price target on shares of GAP in a report on Wednesday, September 13th. Finally, TheStreet upgraded GAP from a “d+” rating to a “c-” rating in a research report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.13.

GAP Trading Down 2.8 %

GAP stock opened at $13.67 on Monday. GAP has a 12-month low of $7.22 and a 12-month high of $15.49. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 47.14, a P/E/G ratio of 1.62 and a beta of 1.92. The firm has a 50 day moving average of $11.76 and a 200 day moving average of $10.21. The company has a current ratio of 1.41, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72.

GAP (NYSE:GPS) last posted its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.39. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.61 billion. GAP had a net margin of 0.71% and a return on equity of 5.06%. The company’s revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, research analysts predict that GAP will post 0.72 earnings per share for the current year.

Insider Activity at GAP

In other news, EVP Sarah Gilligan sold 8,712 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $14.00, for a total value of $121,968.00. Following the completion of the sale, the executive vice president now owns 11,741 shares in the company, valued at approximately $164,374. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Katrina O’connell sold 24,509 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $10.36, for a total transaction of $253,913.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sarah Gilligan sold 8,712 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $14.00, for a total value of $121,968.00. Following the completion of the transaction, the executive vice president now directly owns 11,741 shares in the company, valued at approximately $164,374. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,768 shares of company stock worth $382,237. Company insiders own 30.81% of the company’s stock.

Institutional Trading of GAP

A number of large investors have recently made changes to their positions in GPS. Ameriprise Financial Inc. raised its stake in shares of GAP by 73.4% during the third quarter. Ameriprise Financial Inc. now owns 3,572,524 shares of the apparel retailer’s stock valued at $37,976,000 after acquiring an additional 1,512,067 shares in the last quarter. Lazard Asset Management LLC increased its holdings in GAP by 117.8% during the 3rd quarter. Lazard Asset Management LLC now owns 4,613 shares of the apparel retailer’s stock worth $49,000 after purchasing an additional 2,495 shares during the period. California Public Employees Retirement System raised its position in GAP by 6.5% during the 3rd quarter. California Public Employees Retirement System now owns 368,274 shares of the apparel retailer’s stock valued at $3,915,000 after purchasing an additional 22,316 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of GAP by 8.3% in the 3rd quarter. New York State Teachers Retirement System now owns 260,566 shares of the apparel retailer’s stock worth $2,770,000 after buying an additional 19,923 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of GAP by 2.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,906,701 shares of the apparel retailer’s stock worth $30,898,000 after buying an additional 80,792 shares during the period. 61.71% of the stock is owned by hedge funds and other institutional investors.

GAP Company Profile

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 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.