GAP (GPS) PT Lowered to $33.00 at Credit Suisse Group

GAP (NYSE:GPS) had its target price reduced by Credit Suisse Group from $35.00 to $33.00 in a report released on Friday morning. They currently have a neutral rating on the apparel retailer’s stock.

A number of other research analysts have also recently weighed in on GPS. Barclays lifted their price objective on shares of GAP from $34.00 to $39.00 and gave the company an overweight rating in a report on Thursday, January 25th. Wolfe Research cut shares of GAP from an outperform rating to a peer perform rating in a report on Friday, January 26th. JPMorgan Chase & Co. restated a neutral rating and issued a $28.00 price objective (up previously from $24.00) on shares of GAP in a report on Wednesday, February 21st. Deutsche Bank dropped their price objective on shares of GAP from $33.00 to $32.00 and set a hold rating for the company in a report on Monday, February 26th. Finally, Guggenheim reiterated a hold rating on shares of GAP in a research note on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $32.75.

Get GAP alerts:

Shares of GAP opened at $28.15 on Friday, MarketBeat.com reports. The company has a quick ratio of 1.05, a current ratio of 2.03 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $10.96 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 1.36 and a beta of 0.84. GAP has a fifty-two week low of $21.02 and a fifty-two week high of $35.68.

GAP (NYSE:GPS) last announced its quarterly earnings data on Thursday, May 24th. The apparel retailer reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.60 billion. GAP had a net margin of 5.36% and a return on equity of 28.04%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. research analysts predict that GAP will post 2.58 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Wednesday, July 11th will be given a dividend of $0.2425 per share. The ex-dividend date is Tuesday, July 10th. This represents a $0.97 annualized dividend and a dividend yield of 3.45%. GAP’s dividend payout ratio is presently 45.54%.

In other GAP news, Director Brian Goldner purchased 5,000 shares of GAP stock in a transaction that occurred on Monday, March 5th. The stock was purchased at an average price of $33.75 per share, for a total transaction of $168,750.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $168,750. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dara Bazzano sold 4,066 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $34.00, for a total transaction of $138,244.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,770,425 shares of company stock valued at $57,824,673 in the last 90 days. Insiders own 30.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. San Francisco Sentry Investment Group CA raised its position in GAP by 543.3% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 3,493 shares of the apparel retailer’s stock valued at $119,000 after purchasing an additional 2,950 shares during the last quarter. Avestar Capital LLC purchased a new stake in GAP in the 4th quarter valued at $116,000. Bronfman E.L. Rothschild L.P. raised its position in GAP by 263.4% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 4,444 shares of the apparel retailer’s stock valued at $139,000 after purchasing an additional 3,221 shares during the last quarter. Mariner Wealth Advisors LLC purchased a new stake in GAP in the 4th quarter valued at $203,000. Finally, Squar Milner Financial Services LLC purchased a new stake in GAP in the 4th quarter valued at $210,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

GAP Company Profile

The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, and Intermix brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.