GAP (NYSE:GPS – Get Free Report) had its price objective raised by equities research analysts at Wells Fargo & Company from $16.00 to $20.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 46.31% from the company’s previous close.
Several other research firms have also issued reports on GPS. Evercore ISI began coverage on GAP in a research note on Tuesday, November 7th. They issued an “outperform” rating and a $17.00 price objective on the stock. Bank of America increased their price target on GAP from $8.50 to $9.00 and gave the company an “underperform” rating in a research note on Friday, August 25th. The Goldman Sachs Group lifted their price objective on shares of GAP from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday. TheStreet raised shares of GAP from a “d+” rating to a “c-” rating in a research report on Thursday, July 27th. Finally, Telsey Advisory Group restated 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. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.07.
GAP Stock Performance
GAP (NYSE:GPS – Get Free Report) last announced its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.39. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.61 billion. GAP had a return on equity of 5.06% and a net margin of 0.71%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 EPS. Research analysts forecast that GAP will post 0.72 EPS for the current fiscal year.
Insider Activity at GAP
In other GAP news, CFO Katrina O’connell sold 24,509 shares of the company’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 through this hyperlink. In related news, EVP Sarah Gilligan sold 8,712 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $14.00, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Katrina O’connell sold 24,509 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were 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. Insiders have sold 33,768 shares of company stock valued at $382,237 over the last three months. 30.81% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC boosted its holdings in shares of GAP by 317.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,793 shares of the apparel retailer’s stock valued at $30,000 after acquiring an additional 2,124 shares in the last quarter. Lazard Asset Management LLC raised its position in GAP by 117.8% in the third quarter. Lazard Asset Management LLC now owns 4,613 shares of the apparel retailer’s stock valued at $49,000 after purchasing an additional 2,495 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of GAP by 12.2% during the second quarter. Captrust Financial Advisors now owns 8,561 shares of the apparel retailer’s stock valued at $71,000 after purchasing an additional 930 shares in the last quarter. Covestor Ltd grew its holdings in shares of GAP by 208.4% during the first quarter. Covestor Ltd now owns 6,923 shares of the apparel retailer’s stock worth $97,000 after purchasing an additional 4,678 shares during the last quarter. Finally, Sciencast Management LP bought a new stake in shares of GAP during the second quarter worth about $122,000. 61.71% of the stock is currently owned by institutional investors and hedge funds.
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.
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