GAP (GPS) Cut to “Underweight” at JPMorgan Chase & Co.

GAP (NYSE:GPS) was downgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Thursday, The Fly reports.

Several other equities analysts have also commented on GPS. UBS Group began coverage on shares of GAP in a report on Thursday, June 21st. They set a “neutral” rating and a $33.00 target price on the stock. Wedbush assumed coverage on shares of GAP in a research report on Friday, August 10th. They set a “neutral” rating and a $32.00 price target for the company. Guggenheim reissued a “hold” rating on shares of GAP in a research report on Friday, August 24th. Zacks Investment Research cut shares of GAP from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Finally, Barclays set a $39.00 price objective on shares of GAP and gave the company a “buy” rating in a report on Saturday, August 25th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.43.

GPS opened at $27.13 on Thursday. The company has a market capitalization of $11.10 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 1.24 and a beta of 0.64. GAP has a 12 month low of $25.36 and a 12 month high of $35.68. The company has a quick ratio of 1.02, a current ratio of 1.96 and a debt-to-equity ratio of 0.37.

GAP (NYSE:GPS) last posted its earnings results on Thursday, August 23rd. The apparel retailer reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.04. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. GAP had a net margin of 5.43% and a return on equity of 29.25%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 EPS. On average, equities analysts expect that GAP will post 2.59 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of GPS. Tealwood Asset Management Inc. purchased a new stake in shares of GAP during the third quarter worth approximately $3,380,000. Gateway Investment Advisers LLC grew its holdings in GAP by 25.4% in the third quarter. Gateway Investment Advisers LLC now owns 269,831 shares of the apparel retailer’s stock valued at $7,785,000 after purchasing an additional 54,692 shares during the last quarter. First Hawaiian Bank acquired a new stake in GAP in the third quarter valued at $291,000. State of New Jersey Common Pension Fund D acquired a new stake in GAP in the third quarter valued at $664,000. Finally, Manning & Napier Group LLC grew its holdings in GAP by 15.1% in the third quarter. Manning & Napier Group LLC now owns 143,887 shares of the apparel retailer’s stock valued at $4,150,000 after purchasing an additional 18,857 shares during the last quarter. 58.02% of the stock is owned by institutional investors and hedge funds.

About GAP

The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, and Intermix brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.

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