GAP (NYSE:GPS – Get Rating) was downgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report released on Friday, The Fly reports.
A number of other equities research analysts have also recently weighed in on the stock. Daiwa Capital Markets cut shares of GAP from a “neutral” rating to an “underperform” rating and set a $13.75 price target for the company. in a research report on Wednesday, March 9th. B. Riley lowered their price target on GAP from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, April 22nd. StockNews.com began coverage on GAP in a report on Thursday, March 31st. They set a “hold” rating for the company. BMO Capital Markets dropped their target price on GAP from $16.00 to $13.00 and set a “market perform” rating for the company in a research report on Friday, April 22nd. Finally, Citigroup cut shares of GAP from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $13.00 to $8.00 in a research report on Monday. Seven investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, GAP has an average rating of “Hold” and a consensus price target of $15.72.
Shares of NYSE GPS opened at $11.12 on Friday. The company has a market capitalization of $4.11 billion, a P/E ratio of 16.85, a P/E/G ratio of 0.73 and a beta of 1.66. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.27 and a quick ratio of 0.53. The company has a 50 day simple moving average of $13.09 and a 200-day simple moving average of $15.93. GAP has a 1 year low of $9.24 and a 1 year high of $35.35.
GAP (NYSE:GPS – Get Rating) last posted its earnings results on Thursday, May 26th. The apparel retailer reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.31). GAP had a return on equity of 19.48% and a net margin of 1.54%. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same period last year, the business earned $0.48 EPS. GAP’s revenue was down 12.9% compared to the same quarter last year. As a group, research analysts expect that GAP will post 1.28 EPS for the current year.
Hedge funds have recently modified their holdings of the business. FMR LLC grew its position in shares of GAP by 1,723.2% during the first quarter. FMR LLC now owns 251,986 shares of the apparel retailer’s stock worth $6,597,000 after acquiring an additional 238,165 shares during the last quarter. Geode Capital Management LLC increased its stake in GAP by 5.3% in the third quarter. Geode Capital Management LLC now owns 3,753,327 shares of the apparel retailer’s stock valued at $85,061,000 after purchasing an additional 190,085 shares during the period. Arizona State Retirement System raised its holdings in shares of GAP by 1.2% in the third quarter. Arizona State Retirement System now owns 61,714 shares of the apparel retailer’s stock valued at $1,401,000 after buying an additional 711 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of GAP by 2.6% in the third quarter. California State Teachers Retirement System now owns 370,109 shares of the apparel retailer’s stock valued at $8,401,000 after buying an additional 9,320 shares during the last quarter. Finally, KB Financial Partners LLC boosted its stake in shares of GAP by 22.3% during the third quarter. KB Financial Partners LLC now owns 14,140 shares of the apparel retailer’s stock worth $321,000 after buying an additional 2,576 shares during the period. 58.23% of the stock is currently owned by institutional investors.
About GAP (Get Rating)
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, tees, fleece, 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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