Evercore ISI Has Lowered Expectations for GAP (NYSE:GAP) Stock Price

Key Points

• Evercore ISI has lowered GAP's price target from $27.00 to $24.00, maintaining an "outperform" rating with potential upside from the stock's previous close.
• Several other brokerages have recently updated their ratings, with Wall Street Zen upgrading to "buy," while Wells Fargo downgraded to "equal weight" and lowered its target price to $24.00.
• The CEO of GAP sold 51,385 shares at an average price of $27.00, which represents a 29.3% reduction in their ownership stake in the company.

GAP (NYSE:GAP - Get Free Report) had its price target decreased by equities researchers at Evercore ISI from $27.00 to $24.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Evercore ISI's target price indicates a potential upside of 26.06% from the stock's current price.

Several other analysts have also recently weighed in on GAP. Barclays boosted their price objective on GAP from $26.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Jefferies Financial Group restated a "hold" rating and set a $29.00 target price (up from $26.00) on shares of GAP in a research report on Wednesday, May 21st. Wells Fargo & Company lowered GAP from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $30.00 to $24.00 in a research report on Wednesday, April 30th. Telsey Advisory Group restated a "market perform" rating and set a $26.00 target price on shares of GAP in a research report on Friday, May 30th. Finally, Citigroup decreased their target price on GAP from $33.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.93.

GAP Trading Down 2.2%

NYSE:GAP traded down $0.42 on Wednesday, hitting $19.04. 1,724,954 shares of the stock were exchanged, compared to its average volume of 8,980,102. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 2.15 and a beta of 2.14. GAP has a 52 week low of $16.99 and a 52 week high of $29.29. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.98 and a current ratio of 1.71. The company's 50-day moving average price is $22.14 and its 200 day moving average price is $22.14.

GAP (NYSE:GAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.07. The firm had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.41 billion. GAP had a return on equity of 27.86% and a net margin of 5.80%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS. On average, equities research analysts forecast that GAP will post 2.02 earnings per share for the current year.

Insider Activity

In related news, CEO Mark Breitbard sold 51,385 shares of the business'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 completion of the transaction, the chief executive officer directly owned 123,985 shares in the company, valued at approximately $3,347,595. The trade was a 29.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 30.56% of the company's stock.

Hedge Funds Weigh In On GAP

Institutional investors and hedge funds have recently modified their holdings of the business. 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 GAP during the 1st quarter worth approximately $75,000. Brooklyn Investment Group acquired a new position in GAP during the 1st quarter worth approximately $80,000. Deseret Mutual Benefit Administrators acquired a new position in GAP during the 1st quarter worth approximately $81,000. Finally, Covestor Ltd acquired a new position in GAP during the 1st quarter worth approximately $82,000. 58.81% of the stock is currently owned by institutional investors and hedge funds.

GAP Company Profile

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.