Gap, Inc. (The) (GPS) PT Raised to $29.00 at BMO Capital Markets

Gap, Inc. (The) (NYSE:GPS) had its price objective hoisted by BMO Capital Markets from $23.00 to $29.00 in a research note issued to investors on Friday morning. BMO Capital Markets currently has a market perform rating on the apparel retailer’s stock.

A number of other equities analysts also recently issued reports on GPS. Zacks Investment Research downgraded Gap, Inc. (The) from a buy rating to a hold rating in a research note on Monday, October 23rd. Royal Bank Of Canada restated a hold rating and issued a $26.00 price target on shares of Gap, Inc. (The) in a research note on Monday, September 18th. ValuEngine upgraded Gap, Inc. (The) from a hold rating to a buy rating in a research note on Thursday, September 7th. Oppenheimer Holdings, Inc. set a $33.00 price target on Gap, Inc. (The) and gave the stock a buy rating in a research note on Monday, October 30th. Finally, Citigroup Inc. upgraded Gap, Inc. (The) from a sell rating to a neutral rating and raised their price target for the stock from $22.00 to $24.00 in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have given a buy rating to the stock. Gap, Inc. (The) currently has an average rating of Hold and an average price target of $27.51.

Shares of Gap, Inc. (NYSE:GPS) opened at $29.93 on Friday. The company has a market capitalization of $11,530.00, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.77 and a beta of 0.86. Gap, Inc. has a fifty-two week low of $21.02 and a fifty-two week high of $30.14. The company has a quick ratio of 0.77, a current ratio of 1.73 and a debt-to-equity ratio of 0.41.

Gap, Inc. (The) (NYSE:GPS) last posted its earnings results on Thursday, November 16th. The apparel retailer reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.76 billion. Gap, Inc. (The) had a return on equity of 27.47% and a net margin of 5.57%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. sell-side analysts expect that Gap, Inc. will post 2.08 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 3rd will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, January 2nd. This represents a $0.92 annualized dividend and a yield of 3.07%. Gap, Inc. (The)’s payout ratio is currently 42.20%.

In other Gap, Inc. (The) news, CEO Jeff Kirwan sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $29.38, for a total transaction of $29,380.00. Following the completion of the transaction, the chief executive officer now owns 25,268 shares in the company, valued at $742,373.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sonia Syngal sold 1,935 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $25.79, for a total value of $49,903.65. Following the transaction, the chief executive officer now owns 39,656 shares of the company’s stock, valued at approximately $1,022,728.24. The disclosure for this sale can be found here. Insiders have sold 672,426 shares of company stock worth $18,813,667 over the last three months. 27.30% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Gap, Inc. (The) by 2.8% during the second quarter. Vanguard Group Inc. now owns 23,743,881 shares of the apparel retailer’s stock valued at $522,127,000 after buying an additional 643,396 shares during the period. BlackRock Inc. boosted its position in shares of Gap, Inc. (The) by 1.5% during the second quarter. BlackRock Inc. now owns 23,076,989 shares of the apparel retailer’s stock valued at $507,464,000 after buying an additional 338,876 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Gap, Inc. (The) by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 10,710,283 shares of the apparel retailer’s stock valued at $316,275,000 after buying an additional 1,030,160 shares during the period. Franklin Resources Inc. boosted its position in shares of Gap, Inc. (The) by 0.3% during the second quarter. Franklin Resources Inc. now owns 5,617,494 shares of the apparel retailer’s stock valued at $123,529,000 after buying an additional 15,504 shares during the period. Finally, APG Asset Management N.V. boosted its position in shares of Gap, Inc. (The) by 27.7% during the third quarter. APG Asset Management N.V. now owns 4,652,508 shares of the apparel retailer’s stock valued at $137,389,000 after buying an additional 1,009,400 shares during the period. Institutional investors and hedge funds own 57.67% of the company’s stock.

About Gap, Inc. (The)

The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.

Analyst Recommendations for Gap, Inc. (The) (NYSE:GPS)

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