Gap Inc. (NYSE:GPS) was downgraded by equities research analysts at Vetr from a "strong-buy" rating to a "buy" rating in a report released on Friday, MarketBeat.com reports. They presently have a $27.03 target price on the apparel retailer's stock. Vetr's price objective would indicate a potential upside of 8.21% from the company's previous close.
A number of hedge funds recently modified their holdings of the company. AJO LP increased its stake in shares of Gap by 21.7% in the fourth quarter. AJO LP now owns 1,109,667 shares of the apparel retailer's stock worth $27,409,000 after buying an additional 197,623 shares in the last quarter. Ameriprise Financial Inc (NYSE:AMP). raised its stake in Gap by 3.0% in the fourth quarter. Ameriprise Financial Inc. now owns 135,363 shares of the apparel retailer's stock worth $3,342,000 after buying an additional 3,912 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Gap by 2.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,555,167 shares of the apparel retailer's stock worth $38,413,000 after buying an additional 42,714 shares during the last quarter. PVG Asset Management raised its stake in Gap by 9.1% in the fourth quarter. PVG Asset Management now owns 82,431 shares of the apparel retailer's stock worth $2,036,000 after buying an additional 6,846 shares during the last quarter. Finally, American International Group Inc (NYSE:AIG). raised its stake in Gap by 9,228.2% in the fourth quarter. American International Group Inc. now owns 12,950,963 shares of the apparel retailer's stock worth $319,888,000 after buying an additional 12,812,126 shares during the last quarter.
A number of other analysts have also recently commented on the stock. Cowen and Company restated a "market perform" rating and set a $25.00 target price on shares of Gap in a report on Thursday, MarketBeat.com reports. Piper Jaffray Cos. restated an "underweight" rating and set a $23.00 target price (up previously from $21.00) on shares of Gap in a report on Wednesday, MarketBeat.com reports. Deutsche Bank AG (DE:DBKGn) boosted their target price on shares of Gap from $18.00 to $19.00 and gave the company a "sell" rating in a report on Tuesday, MarketBeat.com reports. Citigroup Inc (NYSE:C). upped their price target on shares of Gap from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Tuesday, MarketBeat.com reports. Finally, JPMorgan Chase & Co (NYSE:JPM). reiterated a "sell" rating on shares of Gap in a research note on Tuesday, MarketBeat.com reports. Seven analysts have rated the stock with a sell rating, twenty-six have given a hold rating and six have assigned a buy rating to the company's stock. Gap presently has an average rating of "Hold" and a consensus price target of $25.20.
Shares of Gap opened at 24.98 on Friday, MarketBeat.com reports. The stock has a market cap of $9.94 billion and a P/E ratio of 12.53. The company's 50-day moving average is $23.47 and its 200-day moving average is $23.78. Gap has a 12-month low of $17.00 and a 12-month high of $34.92.
Gap (NYSE:GPS) last announced its earnings results on Thursday, May 19th. The apparel retailer reported $0.32 EPS for the quarter, meeting the Zacks' consensus estimate of $0.32. The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter last year, the firm posted $0.56 EPS. The business's quarterly revenue was down 6.0% on a year-over-year basis. On average, equities research analysts anticipate that Gap will post $1.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.68%.
The Gap 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.