GAP (GPS) Downgraded by Barclays

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Barclays lowered shares of GAP (NYSE:GPS) from an overweight rating to an underweight rating in a research report sent to investors on Friday, MarketBeat.com reports. They currently have $25.25 target price on the apparel retailer’s stock.

Several other equities analysts have also commented on GPS. Wedbush set a $25.00 price target on shares of GAP and gave the stock a neutral rating in a research report on Thursday, October 11th. JPMorgan Chase & Co. lowered shares of GAP from a neutral rating to an underweight rating and lowered their price target for the stock from $30.00 to $24.00 in a research report on Thursday, October 18th. Standpoint Research upgraded 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. Goldman Sachs Group started coverage on shares of GAP in a research report on Thursday, October 25th. They set a neutral rating and a $28.00 price target for the company. Finally, Royal Bank of Canada lowered their price target on shares of GAP to $30.00 and set a positive rating for the company in a research report on Thursday, November 1st. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $30.97.

GPS stock opened at $25.24 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.97 and a quick ratio of 0.85. GAP has a 1-year low of $24.25 and a 1-year high of $35.68. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.13 and a beta of 0.67.

GAP (NYSE:GPS) last released its earnings results on Tuesday, November 20th. The apparel retailer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. GAP had a net margin of 5.57% and a return on equity of 29.45%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts predict that GAP will post 2.56 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Wednesday, January 9th will be issued a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Tuesday, January 8th. GAP’s payout ratio is currently 45.54%.

Hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its holdings in GAP by 4.1% in the third quarter. Wells Fargo & Company MN now owns 4,306,449 shares of the apparel retailer’s stock worth $124,241,000 after purchasing an additional 168,980 shares during the period. Empowered Funds LLC lifted its holdings in GAP by 8.2% in the third quarter. Empowered Funds LLC now owns 105,660 shares of the apparel retailer’s stock worth $3,030,000 after purchasing an additional 7,976 shares during the period. Marathon Trading Investment Management LLC acquired a new stake in GAP in the third quarter worth about $399,000. Royal London Asset Management Ltd. acquired a new stake in GAP in the second quarter worth about $3,024,000. Finally, Worldquant Millennium Quantitative Strategies LLC lifted its holdings in GAP by 29.3% in the third quarter. Worldquant Millennium Quantitative Strategies LLC now owns 200,674 shares of the apparel retailer’s stock worth $5,789,000 after purchasing an additional 45,530 shares during the period. 56.53% of the stock is 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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Analyst Recommendations for GAP (NYSE:GPS)

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