GAP (NYSE:GPS)‘s stock had its “sell” rating restated by investment analysts at Bank of America in a research note issued to investors on Thursday, TipRanks reports. They presently have a $10.00 target price on the apparel retailer’s stock. Bank of America‘s price target would indicate a potential downside of 14.16% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. BMO Capital Markets reduced their price objective on GAP from $18.00 to $15.00 and set a “market perform” rating for the company in a research note on Friday, March 13th. JPMorgan Chase & Co. raised their price objective on GAP from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada increased their target price on GAP from $8.00 to $13.00 and gave the company a “sector perform” rating in a report on Friday, June 5th. UBS Group increased their target price on GAP from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Finally, Telsey Advisory Group reduced their target price on GAP from $19.00 to $12.00 and set a “market perform” rating for the company in a report on Friday, March 13th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $12.06.

GPS opened at $11.65 on Thursday. The firm has a market cap of $4.44 billion, a PE ratio of -5.32 and a beta of 1.51. The company has a quick ratio of 0.58, a current ratio of 1.23 and a debt-to-equity ratio of 2.84. The business has a fifty day simple moving average of $10.94 and a 200-day simple moving average of $12.36. GAP has a fifty-two week low of $5.26 and a fifty-two week high of $19.86.

GAP (NYSE:GPS) last released its quarterly earnings data on Thursday, June 4th. The apparel retailer reported ($2.51) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($1.84). The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.35 billion. GAP had a negative return on equity of 8.63% and a negative net margin of 5.47%. The business’s revenue was down 43.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 earnings per share. On average, equities research analysts anticipate that GAP will post -2.32 EPS for the current fiscal year.

In other news, insider John Strain acquired 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average cost of $12.84 per share, for a total transaction of $70,620.00. Following the completion of the acquisition, the insider now owns 7,005 shares in the company, valued at $89,944.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 45.30% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in GAP by 73.2% during the first quarter. JPMorgan Chase & Co. now owns 13,285,946 shares of the apparel retailer’s stock worth $93,532,000 after buying an additional 5,613,511 shares during the last quarter. Prudential PLC acquired a new position in GAP during the first quarter worth $35,019,000. APG Asset Management N.V. increased its position in GAP by 2,279.6% during the first quarter. APG Asset Management N.V. now owns 4,203,108 shares of the apparel retailer’s stock worth $97,998,000 after buying an additional 4,026,477 shares during the last quarter. Norges Bank acquired a new position in GAP during the fourth quarter worth $63,059,000. Finally, Skandinaviska Enskilda Banken AB publ increased its position in GAP by 625.8% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 3,274,780 shares of the apparel retailer’s stock worth $23,054,000 after buying an additional 2,823,615 shares during the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

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, Intermix, and Hill City 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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Analyst Recommendations for GAP (NYSE:GPS)

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