GAP (NYSE:GAP - Free Report) had its target price decreased by Citigroup from $32.00 to $22.00 in a research note released on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.
A number of other equities analysts also recently commented on the stock. UBS Group reduced their target price on shares of GAP from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. Barclays lifted their price target on shares of GAP from $32.00 to $33.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Argus upgraded GAP from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a research report on Tuesday, January 21st. Telsey Advisory Group restated a "market perform" rating and issued a $26.00 target price on shares of GAP in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their price target on GAP from $29.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.69.
Get Our Latest Stock Report on GAP
GAP Price Performance
GAP stock traded down $0.42 during mid-day trading on Tuesday, reaching $18.58. The company's stock had a trading volume of 11,990,938 shares, compared to its average volume of 6,943,577. The stock has a market cap of $7.00 billion, a PE ratio of 8.60, a P/E/G ratio of 0.94 and a beta of 2.15. The company's 50 day moving average is $21.19 and its two-hundred day moving average is $22.41. GAP has a fifty-two week low of $16.99 and a fifty-two week high of $26.41. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47.
GAP (NYSE:GAP - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.18. GAP had a return on equity of 29.03% and a net margin of 5.40%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.07 billion. Equities research analysts expect that GAP will post 2.02 EPS for the current year.
GAP Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.165 per share. The ex-dividend date is Wednesday, April 9th. This is a positive change from GAP's previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a yield of 3.55%. GAP's dividend payout ratio is 29.86%.
Insider Buying and Selling at GAP
In other news, Director Elisabeth B. Donohue sold 3,539 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $21.04, for a total transaction of $74,460.56. Following the completion of the transaction, the director now directly owns 4,000 shares of the company's stock, valued at approximately $84,160. The trade was a 46.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Breitbard sold 3,393 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $19.58, for a total transaction of $66,434.94. Following the sale, the chief executive officer now owns 133,341 shares in the company, valued at $2,610,816.78. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 177,495 shares of company stock valued at $3,598,459 in the last 90 days. Company insiders own 31.00% of the company's stock.
Hedge Funds Weigh In On GAP
A number of institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers purchased a new stake in GAP during the 1st quarter worth about $12,210,000. California State Teachers Retirement System purchased a new position in GAP in the fourth quarter valued at approximately $4,953,000. Finally, GAMMA Investing LLC acquired a new stake in GAP during the first quarter worth approximately $1,971,000. Institutional investors and hedge funds own 58.81% of the company's stock.
GAP Company Profile
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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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