GAP (NYSE:GPS) had its price objective cut by Wedbush from $18.00 to $15.00 in a note issued to investors on Monday, Briefing.com Automated Import reports. The brokerage currently has a “neutral” rating on the apparel retailer’s stock. Wedbush’s target price would indicate a potential downside of 11.27% from the stock’s previous close. Wedbush also issued estimates for GAP’s Q3 2020 earnings at $0.50 EPS, Q1 2021 earnings at $0.19 EPS, Q3 2021 earnings at $0.61 EPS and Q4 2021 earnings at $0.71 EPS.
Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group set a $37.00 price target on GAP and gave the stock a “buy” rating in a report on Friday, September 13th. Deutsche Bank reduced their price objective on GAP from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Friday. Credit Suisse Group cut GAP from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $20.00 to $14.00 in a research note on Friday, October 18th. B. Riley set a $21.00 price objective on GAP and gave the stock a “hold” rating in a research note on Friday, September 13th. Finally, Guggenheim restated a “hold” rating on shares of GAP in a research note on Thursday, September 12th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $19.82.
NYSE GPS traded up $0.23 during trading on Monday, hitting $16.91. The company’s stock had a trading volume of 3,264,833 shares, compared to its average volume of 6,378,166. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.46 and a quick ratio of 0.72. The company has a market cap of $6.74 billion, a PE ratio of 6.53, a P/E/G ratio of 0.97 and a beta of 0.71. The business’s 50 day simple moving average is $17.09 and its 200-day simple moving average is $18.84. GAP has a fifty-two week low of $15.11 and a fifty-two week high of $31.39.
GAP (NYSE:GPS) last issued its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.11. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.02 billion. GAP had a return on equity of 24.53% and a net margin of 5.71%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.76 earnings per share. Analysts expect that GAP will post 2.06 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in GAP by 0.7% during the second quarter. Vanguard Group Inc. now owns 28,829,631 shares of the apparel retailer’s stock valued at $518,068,000 after acquiring an additional 210,846 shares in the last quarter. BlackRock Inc. raised its position in GAP by 6.9% during the second quarter. BlackRock Inc. now owns 21,828,899 shares of the apparel retailer’s stock valued at $392,265,000 after acquiring an additional 1,415,944 shares in the last quarter. Invesco Ltd. raised its position in GAP by 14.0% during the second quarter. Invesco Ltd. now owns 7,517,993 shares of the apparel retailer’s stock valued at $135,098,000 after acquiring an additional 922,167 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in GAP by 43.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,053,569 shares of the apparel retailer’s stock valued at $54,873,000 after acquiring an additional 923,316 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in GAP by 17.3% during the second quarter. Wells Fargo & Company MN now owns 2,312,790 shares of the apparel retailer’s stock valued at $41,561,000 after acquiring an additional 341,672 shares in the last quarter. Institutional investors own 59.75% 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, Intermix, and Hill City 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.
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