Evercore ISI Issues Pessimistic Forecast for GAP (NYSE:GAP) Stock Price

GAP (NYSE:GAP) had its price objective lowered by Evercore ISI from $27.00 to $24.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price target would indicate a potential upside of 23.43% from the stock’s previous close.

GAP has been the topic of several other research reports. Telsey Advisory Group reissued a “market perform” rating and set a $26.00 price objective on shares of GAP in a research note on Friday, May 30th. Barclays lifted their price objective on GAP from $26.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. Citigroup cut their target price on GAP from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $29.00 price target (up previously from $26.00) on shares of GAP in a research note on Wednesday, May 21st. Finally, Wall Street Zen upgraded shares of GAP from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.93.

GAP Stock Performance

Shares of GAP opened at $19.45 on Wednesday. The company has a 50-day simple moving average of $22.14 and a two-hundred day simple moving average of $22.14. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.71 and a quick ratio of 0.98. The firm has a market capitalization of $7.32 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 2.15 and a beta of 2.14. GAP has a one year low of $16.99 and a one year high of $29.29.

GAP (NYSE:GAP) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.07. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.41 billion. GAP had a return on equity of 27.86% and a net margin of 5.80%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. On average, analysts anticipate that GAP will post 2.02 EPS for the current fiscal year.

Insider Activity at GAP

In other news, CEO Mark Breitbard sold 51,385 shares of GAP stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $27.00, for a total transaction of $1,387,395.00. Following the transaction, the chief executive officer directly owned 123,985 shares of the company’s stock, valued at $3,347,595. The trade was a 29.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 30.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On GAP

Several large investors have recently added to or reduced their stakes in the company. Dodge & Cox bought a new stake in shares of GAP during the 1st quarter valued at $592,222,000. Ameriprise Financial Inc. purchased a new stake in GAP in the 1st quarter worth $63,674,000. Bank of New York Mellon Corp bought a new stake in GAP during the first quarter valued at about $56,763,000. LSV Asset Management purchased a new position in shares of GAP in the first quarter valued at about $32,655,000. Finally, Rhumbline Advisers bought a new position in shares of GAP in the first quarter worth about $12,210,000. Hedge funds and other institutional investors own 58.81% of the company’s stock.

About GAP

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.