GAP (NYSE:GPS - Get Free Report) had its price objective increased by Morgan Stanley from $19.00 to $20.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the apparel retailer's stock. Morgan Stanley's target price suggests a potential downside of 9.91% from the company's previous close.
GPS has been the subject of a number of other research reports. TheStreet upgraded GAP from a "c" rating to a "b-" rating in a report on Thursday, March 7th. Evercore ISI boosted their price objective on shares of GAP from $22.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. upgraded GAP from an "underweight" rating to a "neutral" rating and lifted their target price for the company from $16.00 to $20.00 in a research note on Monday, February 26th. Barclays raised their target price on shares of GAP from $26.00 to $28.00 and gave the company an "overweight" rating in a research note on Friday, March 22nd. Finally, Telsey Advisory Group raised their price target on GAP from $17.00 to $22.00 and gave the stock a "market perform" rating in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $19.33.
Read Our Latest Research Report on GPS
GAP Stock Up 2.8 %
Shares of NYSE GPS traded up $0.61 during mid-day trading on Monday, hitting $22.20. 6,301,701 shares of the stock traded hands, compared to its average volume of 7,532,449. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.33 and a beta of 2.34. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.42. GAP has a 52 week low of $7.22 and a 52 week high of $28.59. The stock has a fifty day moving average price of $22.76 and a 200-day moving average price of $20.03.
GAP (NYSE:GPS - Get Free Report) last announced its earnings results on Thursday, March 7th. The apparel retailer reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.29. GAP had a return on equity of 22.56% and a net margin of 3.37%. The business had revenue of $4.30 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same period last year, the firm posted ($0.75) earnings per share. The business's revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts anticipate that GAP will post 1.36 EPS for the current year.
Insider Buying and Selling
In related news, CEO Mark Breitbard sold 93,809 shares of the company's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $28.14, for a total value of $2,639,785.26. Following the transaction, the chief executive officer now directly owns 141,377 shares in the company, valued at $3,978,348.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Julie Gruber sold 24,180 shares of GAP stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $23.00, for a total value of $556,140.00. Following the transaction, the insider now directly owns 1,384 shares in the company, valued at approximately $31,832. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Breitbard sold 93,809 shares of the company's stock in a transaction on Monday, March 25th. The stock was sold at an average price of $28.14, for a total transaction of $2,639,785.26. Following the transaction, the chief executive officer now owns 141,377 shares of the company's stock, valued at approximately $3,978,348.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 266,723 shares of company stock worth $6,886,765. Insiders own 31.00% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in shares of GAP during the 4th quarter worth $42,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in GAP during the fourth quarter worth about $73,000. VitalStone Financial LLC purchased a new position in GAP in the fourth quarter valued at about $197,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of GAP during the 4th quarter valued at approximately $220,000. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of GAP during the 1st quarter worth approximately $335,000. 58.81% of the stock is owned by hedge funds and other institutional investors.
About GAP
(
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The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.
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