GAP (NYSE:GPS) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of GAP (NYSE:GPSFree Report) from a buy rating to a hold rating in a report released on Wednesday morning.

Several other research firms have also recently commented on GPS. Evercore ISI began coverage on shares of GAP in a research note on Tuesday, November 7th. They set an outperform rating and a $17.00 price target on the stock. The Goldman Sachs Group increased their price target on shares of GAP from $13.00 to $18.00 and gave the company a buy rating in a research note on Friday, November 17th. Morgan Stanley increased their price target on shares of GAP from $13.00 to $14.00 and gave the company an equal weight rating in a research note on Friday, November 17th. Wells Fargo & Company increased their price target on shares of GAP from $20.00 to $24.00 and gave the company an overweight rating in a research note on Friday, December 22nd. Finally, Telsey Advisory Group raised their price objective on shares of GAP from $11.00 to $17.00 and gave the company a market perform rating in a research note on Friday, November 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $13.93.

Check Out Our Latest Research Report on GPS

GAP Stock Performance

NYSE GPS opened at $20.06 on Wednesday. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 200.62, a PEG ratio of 1.47 and a beta of 2.25. The company has a 50 day moving average of $20.44 and a 200-day moving average of $15.07. The company has a current ratio of 1.39, a quick ratio of 0.64 and a debt-to-equity ratio of 0.60. GAP has a 1-year low of $7.22 and a 1-year high of $22.08.

GAP (NYSE:GPSGet Free Report) last posted its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.39. GAP had a net margin of 0.30% and a return on equity of 3.41%. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the business posted $0.71 earnings per share. The company’s revenue was down 6.7% on a year-over-year basis. On average, equities analysts forecast that GAP will post 1.14 earnings per share for the current fiscal year.

Insider Transactions at GAP

In other news, CEO Mark Breitbard sold 46,904 shares of GAP stock in a transaction on Friday, November 17th. The shares were sold at an average price of $18.00, for a total transaction of $844,272.00. Following the transaction, the chief executive officer now directly owns 123,985 shares of the company’s stock, valued at $2,231,730. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder John J. Fisher sold 478,330 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $21.38, for a total transaction of $10,226,695.40. Following the sale, the insider now directly owns 3,793,186 shares in the company, valued at $81,098,316.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Breitbard sold 46,904 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $18.00, for a total transaction of $844,272.00. Following the sale, the chief executive officer now owns 123,985 shares in the company, valued at $2,231,730. The disclosure for this sale can be found here. Insiders have sold a total of 826,954 shares of company stock valued at $16,920,402 over the last three months. 30.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GAP

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in shares of GAP by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 2,906,701 shares of the apparel retailer’s stock worth $30,898,000 after acquiring an additional 80,792 shares during the period. California Public Employees Retirement System increased its stake in GAP by 19.9% in the 2nd quarter. California Public Employees Retirement System now owns 345,958 shares of the apparel retailer’s stock valued at $3,089,000 after buying an additional 57,395 shares during the last quarter. Rhumbline Advisers increased its stake in GAP by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 622,998 shares of the apparel retailer’s stock valued at $5,563,000 after buying an additional 5,096 shares during the last quarter. First Hawaiian Bank increased its stake in GAP by 17.3% in the 3rd quarter. First Hawaiian Bank now owns 102,664 shares of the apparel retailer’s stock valued at $1,091,000 after buying an additional 15,158 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in GAP in the 3rd quarter valued at $142,000. 61.71% of the stock is currently owned by institutional investors and hedge funds.

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 denim and khakis; eyewear, jewelry, shoes, handbags, and fragrances; 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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