GAP (NYSE:GAP - Get Free Report) had its price target lowered by research analysts at Citigroup from $33.00 to $30.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price suggests a potential upside of 36.58% from the company's previous close.
A number of other equities research analysts also recently weighed in on the stock. UBS Group dropped their price target on shares of GAP from $29.00 to $27.00 and set a "neutral" rating for the company in a research report on Friday. Barclays raised their target price on GAP from $26.00 to $33.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Jefferies Financial Group reissued a "hold" rating and set a $29.00 target price (up previously from $26.00) on shares of GAP in a research note on Wednesday, May 21st. Wells Fargo & Company downgraded shares of GAP from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $30.00 to $24.00 in a research note on Wednesday, April 30th. Finally, Morgan Stanley lowered their price objective on shares of GAP from $30.00 to $27.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $28.47.
Read Our Latest Stock Report on GAP
GAP Stock Performance
GAP stock traded down $0.47 during mid-day trading on Friday, hitting $21.97. 14,114,495 shares of the company's stock traded hands, compared to its average volume of 7,651,999. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.54 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $22.46 and a two-hundred day simple moving average of $22.93. GAP has a fifty-two week low of $16.99 and a fifty-two week high of $29.29. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 10.17, a P/E/G ratio of 0.94 and a beta of 2.24.
GAP (NYSE:GAP - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.44 by $0.07. GAP had a net margin of 5.40% and a return on equity of 29.03%. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. GAP's revenue was up 2.2% compared to the same quarter last year. On average, research analysts expect that GAP will post 2.02 EPS for the current fiscal year.
Insider Buying and Selling
In other news, insider Sarah Gilligan sold 29,813 shares of GAP stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $20.34, for a total value of $606,396.42. Following the completion of the transaction, the insider now directly owns 2,634 shares of the company's stock, valued at approximately $53,575.56. This trade represents a 91.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Breitbard sold 51,385 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $27.00, for a total value of $1,387,395.00. Following the sale, the chief executive officer now directly owns 123,985 shares of the company's stock, valued at $3,347,595. This represents a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 228,880 shares of company stock valued at $4,985,854 over the last ninety days. 30.56% of the stock is owned by company insiders.
Institutional Investors Weigh In On GAP
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC acquired a new position in GAP during the 1st quarter worth approximately $30,000. First Horizon Advisors Inc. acquired a new position in shares of GAP during the first quarter valued at about $75,000. Brooklyn Investment Group acquired a new stake in shares of GAP in the 1st quarter worth about $80,000. Deseret Mutual Benefit Administrators acquired a new position in GAP during the 1st quarter valued at about $81,000. Finally, Covestor Ltd bought a new stake in GAP during the 1st quarter worth approximately $82,000. 58.81% of the stock is owned by institutional investors.
About GAP
(
Get Free Report)
Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.
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