GAP (NYSE:GPS) PT Raised to $18.00

GAP (NYSE:GPS) had its target price hoisted by The Goldman Sachs Group from $13.00 to $18.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the apparel retailer’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 0.84% from the stock’s current price.

Several other brokerages have also commented on GPS. Morgan Stanley boosted their price target on shares of GAP from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Friday. Barclays raised shares of GAP from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $9.00 to $13.00 in a research note on Tuesday, August 1st. Bank of America lifted their target price on shares of GAP from $8.50 to $9.00 and gave the stock an “underperform” rating in a research note on Friday, August 25th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 target price (up previously from $11.00) on shares of GAP in a research note on Monday, November 13th. Finally, Evercore ISI initiated coverage on shares of GAP in a research note on Tuesday, November 7th. They set an “outperform” rating and a $17.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.13.

GAP Price Performance

Shares of NYSE GPS opened at $17.85 on Friday. The firm has a market cap of $6.57 billion, a PE ratio of 61.55, a PEG ratio of 1.62 and a beta of 1.92. The firm has a fifty day moving average of $11.89 and a 200 day moving average of $10.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 1.41. GAP has a one year low of $7.22 and a one year high of $18.14.

GAP (NYSE:GPS) last issued its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.59 EPS for the quarter, topping the consensus estimate of $0.20 by $0.39. The company 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 firm’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. As a group, research analysts predict that GAP will post 0.72 EPS for the current fiscal year.

Insider Activity at GAP

In related news, EVP Sarah Gilligan sold 8,712 shares of the business’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 sale, the executive vice president now directly owns 11,741 shares in the company, valued at approximately $164,374. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other GAP news, EVP Sarah Gilligan sold 8,712 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $14.00, for a total transaction of $121,968.00. Following the sale, the executive vice president now directly owns 11,741 shares in the company, valued at $164,374. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Katrina O’connell sold 24,509 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $10.36, for a total transaction of $253,913.24. The disclosure for this sale can be found here. In the last ninety 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. Marshall Wace LLP purchased a new stake in shares of GAP during the fourth quarter worth approximately $20,617,000. Ameriprise Financial Inc. boosted its holdings in GAP by 73.4% in the third quarter. Ameriprise Financial Inc. now owns 3,572,524 shares of the apparel retailer’s stock valued at $37,976,000 after purchasing an additional 1,512,067 shares in the last quarter. BNP Paribas Arbitrage SNC boosted its holdings in GAP by 57.0% in the first quarter. BNP Paribas Arbitrage SNC now owns 1,325,293 shares of the apparel retailer’s stock valued at $13,306,000 after purchasing an additional 481,339 shares in the last quarter. American International Group Inc. boosted its holdings in GAP by 470.4% in the first quarter. American International Group Inc. now owns 360,438 shares of the apparel retailer’s stock valued at $5,075,000 after purchasing an additional 297,247 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in GAP by 54.9% in the first quarter. Rhumbline Advisers now owns 535,779 shares of the apparel retailer’s stock valued at $7,544,000 after purchasing an additional 189,872 shares in the last quarter. 61.71% of the stock is currently 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.