GAP (NYSE:GPS) Stock Rating Upgraded by Citigroup

GAP (NYSE:GPS – Get Rating) was upgraded by equities researchers at Citigroup from a “sell” rating to a “neutral” rating in a report released on Friday, The Fly reports. The brokerage presently has a $8.00 price target on the apparel retailer’s stock, down from their prior price target of $10.00. Citigroup’s target price indicates a potential upside of 2.83% from the company’s previous close.

A number of other research firms have also issued reports on GPS. JPMorgan Chase & Co. raised their target price on GAP from $9.00 to $10.00 and gave the company an “underweight” rating in a report on Friday, March 10th. Telsey Advisory Group reissued a “market perform” rating and set a $15.00 price objective on shares of GAP in a report on Monday, March 6th. Barclays decreased their price objective on GAP from $11.00 to $10.00 in a report on Tuesday, May 2nd. Jefferies Financial Group decreased their price objective on GAP from $11.00 to $9.00 in a report on Tuesday, May 9th. Finally, The Goldman Sachs Group decreased their price objective on GAP from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, March 10th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.00.

GAP Stock Performance

GPS opened at $7.78 on Friday. The firm has a market capitalization of $2.85 billion, a P/E ratio of -14.15, a price-to-earnings-growth ratio of 1.17 and a beta of 1.91. The stock’s 50 day moving average price is $9.18 and its two-hundred day moving average price is $11.66. The company has a quick ratio of 0.68, a current ratio of 1.42 and a debt-to-equity ratio of 0.82. GAP has a 12-month low of $7.48 and a 12-month high of $15.49.

GAP (NYSE:GPS – Get Rating) last released its earnings results on Thursday, March 9th. The apparel retailer reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.16). The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.37 billion. GAP had a negative net margin of 1.29% and a negative return on equity of 6.07%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business earned ($0.02) EPS. On average, equities analysts forecast that GAP will post 0.58 earnings per share for the current year.

Insider Transactions at GAP

In other news, CEO Mark Breitbard sold 22,918 shares of the business’s stock in a transaction on Friday, March 24th. The stock was sold at an average price of $8.78, for a total transaction of $201,220.04. Following the completion of the sale, the chief executive officer now owns 123,985 shares in the company, valued at $1,088,588.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 31,209 shares of company stock worth $282,671 over the last 90 days. 30.81% of the stock is owned by insiders.

Institutional Investors Weigh In On GAP

A number of institutional investors have recently made changes to their positions in the stock. Covestor Ltd grew its stake in GAP by 208.4% in the first quarter. Covestor Ltd now owns 6,923 shares of the apparel retailer’s stock valued at $97,000 after acquiring an additional 4,678 shares during the period. Captrust Financial Advisors grew its stake in GAP by 12.2% in the second quarter. Captrust Financial Advisors now owns 8,561 shares of the apparel retailer’s stock valued at $71,000 after acquiring an additional 930 shares during the period. US Bancorp DE grew its stake in GAP by 34.9% in the first quarter. US Bancorp DE now owns 12,100 shares of the apparel retailer’s stock valued at $170,000 after acquiring an additional 3,132 shares during the period. Citizens Financial Group Inc RI acquired a new position in GAP in the third quarter valued at about $154,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in GAP in the third quarter valued at about $290,000. 57.72% of the stock is owned by institutional investors and hedge funds.

About GAP

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Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.