GAP (NYSE:GPS) Price Target Increased to $13.00 by Analysts at Jefferies Financial Group

GAP (NYSE:GPSGet Rating) had its price objective lifted by research analysts at Jefferies Financial Group from $11.00 to $13.00 in a research report issued to clients and investors on Friday, The Fly reports. Jefferies Financial Group’s price target would indicate a potential downside of 4.90% from the stock’s current price. Jefferies Financial Group also issued estimates for GAP’s Q2 2024 earnings at $0.19 EPS.

A number of other analysts have also issued reports on the company. Morgan Stanley boosted their price objective on GAP from $7.50 to $8.00 and gave the company an “underweight” rating in a research note on Friday, August 26th. The Goldman Sachs Group boosted their price objective on GAP from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, August 26th. StockNews.com lowered GAP from a “hold” rating to a “sell” rating in a research note on Friday, November 4th. Wells Fargo & Company boosted their price objective on GAP from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Cowen reduced their target price on GAP from $12.00 to $10.00 and set a “market perform” rating for the company in a research report on Wednesday, August 31st. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.09.

GAP Stock Performance

Shares of GPS opened at $13.67 on Friday. The firm has a market cap of $4.97 billion, a PE ratio of 85.44 and a beta of 1.80. The stock’s fifty day moving average price is $10.21 and its two-hundred day moving average price is $10.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.37 and a quick ratio of 0.50. GAP has a 1 year low of $7.79 and a 1 year high of $24.94.

GAP (NYSE:GPSGet Rating) last issued its earnings results on Thursday, November 17th. The apparel retailer reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.70. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.83 billion. GAP had a return on equity of 4.81% and a net margin of 0.35%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. On average, equities research analysts forecast that GAP will post -0.33 EPS for the current year.

Insider Activity

In other news, CEO Mary Beth Laughton sold 11,030 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $11.28, for a total value of $124,418.40. Following the completion of the sale, the chief executive officer now owns 31,561 shares of the company’s stock, valued at approximately $356,008.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 44.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GAP

A number of hedge funds and other institutional investors have recently modified their holdings of GPS. Dodge & Cox raised its position in GAP by 0.6% during the 2nd quarter. Dodge & Cox now owns 38,608,626 shares of the apparel retailer’s stock valued at $318,135,000 after purchasing an additional 247,148 shares during the last quarter. Bank of New York Mellon Corp raised its position in GAP by 15.3% during the 1st quarter. Bank of New York Mellon Corp now owns 3,138,643 shares of the apparel retailer’s stock valued at $44,192,000 after purchasing an additional 415,813 shares during the last quarter. Towle & Co raised its position in GAP by 9,453.9% during the 3rd quarter. Towle & Co now owns 2,637,840 shares of the apparel retailer’s stock valued at $21,657,000 after purchasing an additional 2,610,230 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in GAP by 214.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,366,694 shares of the apparel retailer’s stock valued at $11,262,000 after purchasing an additional 931,496 shares during the last quarter. Finally, Rhumbline Advisers raised its position in GAP by 9.4% during the 2nd quarter. Rhumbline Advisers now owns 586,313 shares of the apparel retailer’s stock valued at $4,831,000 after purchasing an additional 50,534 shares during the last quarter. Institutional investors own 57.46% of the company’s stock.

About GAP

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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, tees, fleece, 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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