Bank of America Boosts GAP (NYSE:GPS) Price Target to $18.50

GAP (NYSE:GPSFree Report) had its target price raised by Bank of America from $15.50 to $18.50 in a research report report published on Friday morning, Benzinga reports. Bank of America currently has an underperform rating on the apparel retailer’s stock.

Several other equities analysts have also recently weighed in on GPS. Morgan Stanley raised their price target on shares of GAP from $19.00 to $20.00 and gave the stock an equal weight rating in a research note on Monday, May 6th. Telsey Advisory Group reaffirmed a market perform rating and set a $22.00 price target on shares of GAP in a research note on Friday, May 24th. Robert W. Baird raised their price target on shares of GAP to $23.00 and gave the stock a hold rating in a research note on Friday, March 22nd. BMO Capital Markets raised their price target on shares of GAP from $14.00 to $18.00 and gave the stock a market perform rating in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. raised shares of GAP from an underweight rating to a neutral rating and raised their price target for the stock from $16.00 to $20.00 in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $25.51.

View Our Latest Stock Analysis on GAP

GAP Stock Performance

Shares of GPS stock opened at $28.96 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.42. The company has a market capitalization of $10.82 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 1.75 and a beta of 2.34. The company’s 50 day moving average price is $22.73 and its two-hundred day moving average price is $21.29. GAP has a 52 week low of $7.79 and a 52 week high of $29.08.

GAP (NYSE:GPSGet Free Report) last announced its earnings results on Thursday, May 30th. The apparel retailer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.14 by $0.27. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.29 billion. GAP had a net margin of 4.52% and a return on equity of 28.33%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company posted $0.01 EPS. On average, analysts expect that GAP will post 1.4 earnings per share for the current fiscal year.

GAP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, July 10th. GAP’s dividend payout ratio is 33.33%.

Insider Buying and Selling at GAP

In other GAP news, insider Julie Gruber sold 24,180 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $23.00, for a total transaction of $556,140.00. Following the completion of the sale, the insider now owns 1,384 shares of the company’s stock, valued at approximately $31,832. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Sarah Gilligan sold 29,425 shares of GAP stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $22.58, for a total transaction of $664,416.50. Following the completion of the sale, the insider now owns 1,697 shares of the company’s stock, valued at $38,318.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Julie Gruber sold 24,180 shares of GAP stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $23.00, for a total value of $556,140.00. Following the sale, the insider now directly owns 1,384 shares of the company’s stock, valued at approximately $31,832. The disclosure for this sale can be found here. Insiders sold 266,723 shares of company stock valued at $6,886,765 in the last quarter. 30.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GAP

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hennessy Advisors Inc. lifted its holdings in shares of GAP by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 2,305,600 shares of the apparel retailer’s stock worth $63,519,000 after buying an additional 285,000 shares in the last quarter. BNP Paribas Financial Markets raised its stake in GAP by 33.0% in the fourth quarter. BNP Paribas Financial Markets now owns 367,130 shares of the apparel retailer’s stock valued at $7,677,000 after purchasing an additional 91,151 shares in the last quarter. New York State Teachers Retirement System raised its stake in GAP by 2.7% in the first quarter. New York State Teachers Retirement System now owns 270,730 shares of the apparel retailer’s stock valued at $7,459,000 after purchasing an additional 7,055 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in GAP by 90.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 74,080 shares of the apparel retailer’s stock valued at $787,000 after purchasing an additional 35,223 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in GAP by 266.4% in the fourth quarter. SG Americas Securities LLC now owns 48,820 shares of the apparel retailer’s stock valued at $1,021,000 after purchasing an additional 35,495 shares in the last quarter. Institutional investors and hedge funds own 58.81% of the company’s stock.

GAP Company Profile

(Get Free Report)

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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Analyst Recommendations for GAP (NYSE:GPS)

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