GAP (NYSE:GPS) Trading 16.9% Higher

Gap Inc (NYSE:GPS) shares traded up 16.9% during mid-day trading on Wednesday . The stock traded as high as $8.23 and last traded at $9.50, 733,678 shares traded hands during trading. A decline of 94% from the average session volume of 11,657,478 shares. The stock had previously closed at $8.13.

Several equities analysts have issued reports on the stock. Jefferies Financial Group cut shares of GAP from a “buy” rating to a “hold” rating and lowered their target price for the company from $24.00 to $17.00 in a research note on Monday, January 6th. MKM Partners lowered their target price on shares of GAP from $19.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Royal Bank of Canada upped their target price on shares of GAP from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Morgan Stanley lowered their price objective on shares of GAP from $16.00 to $13.00 and set an “underweight” rating on the stock in a research note on Monday, March 16th. Finally, Cfra lowered their price objective on shares of GAP from $14.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 13th. Seven research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $14.12.

The company’s 50 day moving average price is $13.85 and its two-hundred day moving average price is $16.47. The company has a current ratio of 1.41, a quick ratio of 0.74 and a debt-to-equity ratio of 2.04. The stock has a market cap of $3.02 billion, a P/E ratio of 9.18, a PEG ratio of 0.66 and a beta of 0.88.

GAP (NYSE:GPS) last issued its quarterly earnings data on Thursday, March 12th. The apparel retailer reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.17. The firm had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.56 billion. GAP had a net margin of 2.14% and a return on equity of 21.04%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 EPS. On average, sell-side analysts anticipate that Gap Inc will post 1.37 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Investors of record on Wednesday, April 8th will be issued a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 11.48%. The ex-dividend date of this dividend is Tuesday, April 7th. GAP’s dividend payout ratio is 49.24%.

A number of institutional investors have recently added to or reduced their stakes in GPS. FMR LLC increased its holdings in GAP by 1,723.2% in the 1st quarter. FMR LLC now owns 251,986 shares of the apparel retailer’s stock worth $6,597,000 after acquiring an additional 238,165 shares in the last quarter. State Street Corp increased its holdings in GAP by 12.3% in the 3rd quarter. State Street Corp now owns 11,600,926 shares of the apparel retailer’s stock worth $201,392,000 after acquiring an additional 1,271,187 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its holdings in GAP by 1.2% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 175,400 shares of the apparel retailer’s stock worth $3,045,000 after acquiring an additional 2,102 shares in the last quarter. Virtu Financial LLC increased its holdings in GAP by 39.9% in the 3rd quarter. Virtu Financial LLC now owns 48,019 shares of the apparel retailer’s stock worth $834,000 after acquiring an additional 13,705 shares in the last quarter. Finally, Redwood Investment Management LLC purchased a new stake in GAP in the 3rd quarter worth approximately $343,000. 60.32% of the stock is owned by institutional investors.

GAP Company Profile (NYSE:GPS)

The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.

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