Gap, Inc. (The) (GPS) Cut to “Hold” at Zacks Investment Research
Gap, Inc. (The) (NYSE:GPS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Gap’s shares have outpaced the industry in the last three months, driven by its solid focus on enhancing product quality and responsiveness to changing consumer trends. Evidently, the company has been making constant efforts to boost its digital and mobile offerings, alongside improving product acceptance. The success of these endeavors was clearly visible when Gap’s second-quarter fiscal 2017 marked its second straight earnings beat, and sales topped estimates for the fifth consecutive quarter. Also, comps continued being fueled by Old Navy strength and recovery of the namesake brand. Notably, Gap’s growth efforts and a solid first half encouraged management to raise its fiscal 2017 earnings view. However, currency woes are likely to persist in fiscal 2017. Also, management expects high SG&A expenses in the third quarter, stemming from increased investments for the back-to-school season.”
A number of other research firms have also recently commented on GPS. CIBC raised shares of Gap, Inc. (The) from a “market perform” rating to an “outperform” rating in a report on Monday, June 5th. Oppenheimer Holdings, Inc. set a $28.00 price target on shares of Gap, Inc. (The) and gave the stock a “buy” rating in a report on Thursday, August 17th. Vetr raised shares of Gap, Inc. (The) from a “sell” rating to a “hold” rating and set a $24.84 price target on the stock in a report on Monday, May 15th. ValuEngine cut shares of Gap, Inc. (The) from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Jefferies Group LLC set a $35.00 price target on shares of Gap, Inc. (The) and gave the stock a “buy” rating in a report on Wednesday, August 16th. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $25.67.
Shares of Gap, Inc. (NYSE:GPS) traded down 0.106% on Wednesday, hitting $23.565. The stock had a trading volume of 810,697 shares. The firm’s 50 day moving average is $23.19 and its 200-day moving average is $23.70. Gap, Inc. has a one year low of $21.02 and a one year high of $30.74. The stock has a market capitalization of $9.24 billion, a PE ratio of 11.227 and a beta of 0.87.
Gap, Inc. (The) (NYSE:GPS) last posted its earnings results on Thursday, August 17th. The apparel retailer reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.06. Gap, Inc. (The) had a net margin of 5.42% and a return on equity of 28.50%. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the firm earned $0.60 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts expect that Gap, Inc. will post $2.06 earnings per share for the current fiscal year.
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In other Gap, Inc. (The) news, EVP Paul Joseph Chapman sold 4,898 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $22.82, for a total value of $111,772.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 7,898 shares of company stock valued at $180,332 over the last three months. 27.30% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Ffcm LLC increased its stake in Gap, Inc. (The) by 198.0% in the second quarter. Ffcm LLC now owns 5,296 shares of the apparel retailer’s stock valued at $121,000 after buying an additional 3,519 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Gap, Inc. (The) during the first quarter valued at $127,000. James Investment Research Inc. acquired a new stake in Gap, Inc. (The) during the second quarter valued at $144,000. Penserra Capital Management LLC increased its stake in Gap, Inc. (The) by 9.5% in the first quarter. Penserra Capital Management LLC now owns 5,980 shares of the apparel retailer’s stock valued at $145,000 after buying an additional 520 shares in the last quarter. Finally, Yorktown Management & Research Co Inc acquired a new stake in Gap, Inc. (The) during the first quarter valued at $211,000. 55.68% of the stock is owned by institutional investors and hedge funds.
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.
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