GAP (NYSE:GAP) Given New $30.00 Price Target at Citigroup

GAP (NYSE:GAPFree Report) had its target price cut by Citigroup from $33.00 to $30.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on GAP. UBS Group decreased their target price on GAP from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday. The Goldman Sachs Group decreased their target price on GAP from $34.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $29.00 target price (up previously from $26.00) on shares of GAP in a research report on Wednesday, May 21st. Morgan Stanley decreased their target price on GAP from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $26.00 target price on shares of GAP in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.47.

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GAP Price Performance

GAP stock opened at $22.42 on Friday. The stock has a 50-day moving average price of $22.44 and a two-hundred day moving average price of $22.91. GAP has a 12-month low of $16.99 and a 12-month high of $29.29. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The company has a market cap of $8.44 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 0.94 and a beta of 2.24.

GAP (NYSE:GAPGet Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.07. GAP had a return on equity of 29.03% and a net margin of 5.40%. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, research analysts predict that GAP will post 2.02 EPS for the current year.

GAP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.94%. The ex-dividend date is Wednesday, July 9th. GAP’s payout ratio is currently 29.86%.

Insider Buying and Selling at GAP

In other GAP news, insider Julie Gruber sold 1,537 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $19.59, for a total transaction of $30,109.83. Following the sale, the insider now owns 37,395 shares in the company, valued at $732,568.05. This represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Elisabeth B. Donohue sold 3,539 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $21.04, for a total value of $74,460.56. Following the sale, the director now owns 4,000 shares in the company, valued at $84,160. The trade was a 46.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,880 shares of company stock worth $4,985,854 over the last quarter. 31.00% of the stock is owned by corporate insiders.

Institutional Trading of GAP

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in shares of GAP during the 1st quarter worth approximately $856,000. Plato Investment Management Ltd acquired a new stake in shares of GAP during the 1st quarter worth approximately $121,000. United Services Automobile Association acquired a new stake in shares of GAP during the 1st quarter worth approximately $295,000. Amundi acquired a new stake in shares of GAP during the 1st quarter worth approximately $259,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of GAP during the 1st quarter worth approximately $4,517,000. 58.81% of the stock is currently owned by institutional investors and hedge funds.

GAP Company Profile

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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.

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Analyst Recommendations for GAP (NYSE:GAP)

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