GAP (NYSE:GPS) Price Target Increased to $28.00 by Analysts at Barclays

GAP (NYSE:GPSFree Report) had its target price upped by Barclays from $26.00 to $28.00 in a report released on Friday morning. Barclays currently has an overweight rating on the apparel retailer’s stock.

A number of other research firms have also weighed in on GPS. Evercore ISI lifted their price objective on shares of GAP from $22.00 to $24.00 and gave the company an outperform rating in a research note on Friday. KGI Securities raised their price target on shares of GAP from $9.10 to $25.20 and gave the company a buy rating in a report on Friday. Robert W. Baird raised their price target on shares of GAP to $23.00 and gave the company a hold rating in a report on Friday. JPMorgan Chase & Co. raised shares of GAP from an underweight rating to a neutral rating and raised their price target for the company from $16.00 to $20.00 in a report on Monday, February 26th. Finally, BMO Capital Markets raised their price target on shares of GAP from $14.00 to $18.00 and gave the company a market perform rating in a report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $18.89.

Check Out Our Latest Research Report on GPS

GAP Trading Down 1.4 %

Shares of GPS stock opened at $28.08 on Friday. The company has a 50 day moving average of $20.57 and a 200-day moving average of $17.33. The company has a quick ratio of 0.78, a current ratio of 1.42 and a debt-to-equity ratio of 0.57. GAP has a 12-month low of $7.22 and a 12-month high of $28.59. The firm has a market cap of $10.49 billion, a P/E ratio of 20.96, a PEG ratio of 1.66 and a beta of 2.24.

GAP (NYSE:GPSGet Free Report) last released its quarterly earnings data on Thursday, March 7th. The apparel retailer reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.29. GAP had a net margin of 3.37% and a return on equity of 22.56%. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the business earned ($0.75) EPS. GAP’s revenue was up 1.3% compared to the same quarter last year. Sell-side analysts anticipate that GAP will post 1.36 earnings per share for the current year.

GAP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, April 9th. GAP’s dividend payout ratio is currently 44.78%.

Insider Activity at GAP

In related news, insider Julie Gruber sold 24,180 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $23.00, for a total transaction of $556,140.00. Following the sale, the insider now owns 1,384 shares of the company’s stock, valued at $31,832. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Julie Gruber sold 24,180 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $23.00, for a total transaction of $556,140.00. Following the sale, the insider now owns 1,384 shares of the company’s stock, valued at $31,832. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Katrina O’connell sold 45,266 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $22.58, for a total transaction of $1,022,106.28. Following the sale, the chief financial officer now owns 5,937 shares in the company, valued at approximately $134,057.46. The disclosure for this sale can be found here. Insiders have sold 126,460 shares of company stock worth $2,942,522 over the last 90 days. 30.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GPS. Marshall Wace LLP bought a new position in GAP in the fourth quarter worth approximately $20,617,000. Ameriprise Financial Inc. raised its position in shares of GAP by 73.4% during the 3rd 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 during the period. BNP Paribas Arbitrage SNC raised its position in shares of GAP by 57.0% during the 1st 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 during the period. American International Group Inc. raised its position in shares of GAP by 470.4% during the 1st 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 during the period. Finally, Rhumbline Advisers raised its position in shares of GAP by 54.9% during the 1st 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 during the period. 61.71% of the stock is currently owned by institutional investors.

GAP Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for GAP (NYSE:GPS)

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