GAP (NYSE:GPS) Upgraded by Bank of America to Neutral

Bank of America upgraded shares of GAP (NYSE:GPS) from an underperform rating to a neutral rating in a research report released on Wednesday, MarketBeat reports. They currently have $25.00 price target on the apparel retailer’s stock, up from their prior price target of $18.50.

A number of other equities research analysts have also weighed in on GPS. StockNews.com lowered shares of GAP from a strong-buy rating to a buy rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. boosted their price objective on shares of GAP from $20.00 to $27.00 and gave the company a neutral rating in a research report on Friday, May 31st. BMO Capital Markets boosted their price objective on shares of GAP from $18.00 to $23.00 and gave the company a market perform rating in a research report on Friday, May 31st. Telsey Advisory Group boosted their price objective on shares of GAP from $22.00 to $29.00 and gave the company a market perform rating in a research report on Friday, May 31st. Finally, Robert W. Baird boosted their price objective on shares of GAP from $23.00 to $28.00 and gave the company a neutral rating in a research report on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, GAP presently has a consensus rating of Moderate Buy and a consensus price target of $26.51.

GAP Price Performance

Shares of GPS opened at $21.70 on Wednesday. The firm has a market cap of $8.14 billion, a PE ratio of 12.06, a P/E/G ratio of 1.40 and a beta of 2.38. The company has a current ratio of 1.50, a quick ratio of 0.80 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $23.99 and a two-hundred day simple moving average of $22.43. GAP has a 1-year low of $9.38 and a 1-year high of $30.75.

GAP (NYSE:GPS) last announced its earnings results on Thursday, May 30th. The apparel retailer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.27. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.29 billion. GAP had a net margin of 4.52% and a return on equity of 27.57%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 EPS. On average, equities analysts anticipate that GAP will post 1.78 EPS for the current year.

GAP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, July 10th. GAP’s dividend payout ratio (DPR) is presently 33.33%.

Insider Buying and Selling at GAP

In other GAP news, Director Tracy Gardner sold 2,934 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $23.48, for a total transaction of $68,890.32. Following the completion of the transaction, the director now owns 51,901 shares of the company’s stock, valued at approximately $1,218,635.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Tracy Gardner sold 2,934 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $23.48, for a total transaction of $68,890.32. Following the sale, the director now directly owns 51,901 shares in the company, valued at approximately $1,218,635.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Katrina O’connell sold 20,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $29.01, for a total transaction of $580,200.00. The disclosure for this sale can be found here. Insiders sold 23,132 shares of company stock valued at $654,003 in the last 90 days. Insiders own 30.81% of the company’s stock.

Institutional Trading of GAP

Hedge funds have recently made changes to their positions in the business. Plato Investment Management Ltd raised its position in shares of GAP by 37.2% during the 1st quarter. Plato Investment Management Ltd now owns 1,965 shares of the apparel retailer’s stock valued at $54,000 after buying an additional 533 shares in the last quarter. GAMMA Investing LLC purchased a new stake in GAP in the 4th quarter worth about $42,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in GAP in the 4th quarter worth about $73,000. First Horizon Advisors Inc. raised its position in GAP by 4,441.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 4,950 shares of the apparel retailer’s stock worth $118,000 after purchasing an additional 4,841 shares during the period. Finally, SVB Wealth LLC purchased a new stake in GAP in the 1st quarter worth about $207,000. 58.81% of the stock is currently owned by hedge funds and other institutional investors.

GAP Company Profile

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.