Zacks Research Upgrades GAP (NYSE:GAP) to Strong-Buy

GAP (NYSE:GAP) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other analysts have also issued reports on the company. The Goldman Sachs Group lifted their price target on GAP from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. JPMorgan Chase & Co. raised their price objective on GAP from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, November 21st. Evercore ISI lifted their target price on shares of GAP from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Guggenheim assumed coverage on shares of GAP in a report on Tuesday, December 9th. They set a “neutral” rating for the company. Finally, Jefferies Financial Group upgraded shares of GAP from a “hold” rating to a “buy” rating and increased their target price for the company from $22.00 to $30.00 in a research report on Friday, November 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.86.

GAP Stock Down 1.6%

GAP stock opened at $25.19 on Thursday. GAP has a 52 week low of $16.99 and a 52 week high of $29.29. The company has a quick ratio of 0.97, a current ratio of 1.72 and a debt-to-equity ratio of 0.41. The firm has a 50-day simple moving average of $25.41 and a 200-day simple moving average of $22.91. The stock has a market capitalization of $9.37 billion, a P/E ratio of 11.24, a P/E/G ratio of 2.84 and a beta of 2.31.

GAP (NYSE:GAP) last issued its quarterly earnings results on Tuesday, November 25th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. GAP had a net margin of 5.57% and a return on equity of 24.91%. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period last year, the company posted $0.72 EPS. GAP’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts forecast that GAP will post 2.02 earnings per share for the current fiscal year.

Insider Transactions at GAP

In other GAP news, insider Julie Gruber sold 30,000 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $28.00, for a total value of $840,000.00. Following the transaction, the insider directly owned 37,395 shares in the company, valued at $1,047,060. The trade was a 44.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William Sydney Fisher sold 11,140 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $26.81, for a total transaction of $298,663.40. Following the sale, the director owned 2,753,453 shares of the company’s stock, valued at $73,820,074.93. This represents a 0.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,349,044 shares of company stock valued at $36,857,065 in the last three months. 30.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in shares of GAP during the 1st quarter worth about $856,000. LSV Asset Management boosted its stake in GAP by 101.0% during the second quarter. LSV Asset Management now owns 3,184,477 shares of the company’s stock worth $69,453,000 after buying an additional 1,600,041 shares during the period. Rhumbline Advisers increased its position in shares of GAP by 2.5% during the second quarter. Rhumbline Advisers now owns 607,470 shares of the company’s stock valued at $13,249,000 after acquiring an additional 15,053 shares during the last quarter. 111 Capital acquired a new stake in shares of GAP during the second quarter valued at about $353,000. Finally, Bank of New York Mellon Corp raised its stake in shares of GAP by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,899,563 shares of the company’s stock valued at $63,239,000 after acquiring an additional 145,427 shares during the period. 58.81% of the stock is currently owned by institutional investors and hedge funds.

GAP Company Profile

Gap Inc is a global specialty retailer renowned for its portfolio of apparel and accessories brands, including Gap, Banana Republic, Old Navy and Athleta. The company designs, sources and markets clothing across a broad price range and style spectrum, catering to men, women and children. Its offerings extend from everyday wardrobe essentials such as denim, tees and outerwear to performance and lifestyle pieces, reflecting each brand’s distinct identity and price point.

Founded in San Francisco in 1969 by Donald and Doris Fisher, Gap Inc has grown into one of the world’s largest apparel companies.