GAP (GPS) Price Target Cut to $30.00

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GAP (NYSE:GPS) had its price target cut by equities researchers at Royal Bank of Canada to $30.00 in a research note issued on Thursday, The Fly reports. The firm currently has a “positive” rating on the apparel retailer’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 9.89% from the company’s current price.

Other equities analysts have also issued reports about the stock. Standpoint Research raised shares of GAP from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Friday, October 19th. Barclays set a $39.00 price target on shares of GAP and gave the stock a “buy” rating in a research report on Saturday, August 25th. Zacks Investment Research raised shares of GAP from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Tuesday, July 31st. Guggenheim reissued a “hold” rating on shares of GAP in a research report on Friday, August 24th. Finally, Citigroup raised shares of GAP from a “sell” rating to a “neutral” rating and set a $28.00 price target for the company in a research report on Monday, August 27th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.72.

GPS opened at $27.30 on Thursday. GAP has a 12-month low of $25.27 and a 12-month high of $35.68. The company has a quick ratio of 1.02, a current ratio of 1.96 and a debt-to-equity ratio of 0.37. The company has a market cap of $10.96 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.23 and a beta of 0.64.

GAP (NYSE:GPS) last posted its quarterly earnings results on Thursday, August 23rd. The apparel retailer reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. GAP had a net margin of 5.43% and a return on equity of 29.25%. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the firm posted $0.58 EPS. GAP’s revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts expect that GAP will post 2.58 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. CSat Investment Advisory L.P. acquired a new stake in shares of GAP during the 2nd quarter worth approximately $148,000. Cornerstone Wealth Management LLC acquired a new stake in shares of GAP during the 3rd quarter worth approximately $204,000. Squar Milner Financial Services LLC acquired a new stake in shares of GAP during the 2nd quarter worth approximately $196,000. Titus Wealth Management acquired a new stake in shares of GAP during the 2nd quarter worth approximately $201,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of GAP during the 2nd quarter worth approximately $202,000. 58.10% of the stock is currently owned by institutional investors and hedge funds.

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.

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