GAP (NYSE:GPS) Price Target Lowered to $15.00 at Deutsche Bank

GAP (NYSE:GPS) had its target price reduced by Deutsche Bank from $17.00 to $15.00 in a research note released on Friday, The Fly reports. Deutsche Bank currently has a hold rating on the apparel retailer’s stock.

GPS has been the subject of several other reports. Royal Bank of Canada cut their price target on shares of GAP from $19.00 to $16.00 and set a sector perform rating for the company in a report on Friday. Jefferies Financial Group set a $37.00 price target on shares of GAP and gave the company a buy rating in a report on Friday, September 13th. Wedbush reissued a neutral rating on shares of GAP in a report on Monday, August 19th. B. Riley set a $21.00 price objective on shares of GAP and gave the company a hold rating in a research report on Friday, September 13th. Finally, Wells Fargo & Co restated a market perform rating and issued a $16.00 price objective (down previously from $20.00) on shares of GAP in a research report on Friday. Seven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $20.08.

GPS stock traded down $1.38 during trading on Friday, hitting $16.68. 26,215,485 shares of the stock traded hands, compared to its average volume of 6,378,166. GAP has a one year low of $15.11 and a one year high of $31.39. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 6.44, a P/E/G ratio of 0.97 and a beta of 0.71. The company has a 50 day simple moving average of $17.09 and a 200 day simple moving average of $18.84. The company has a current ratio of 1.46, a quick ratio of 0.72 and a debt-to-equity ratio of 1.90.

GAP (NYSE:GPS) last announced its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.11. GAP had a net margin of 5.71% and a return on equity of 24.53%. The firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the firm posted $0.76 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, analysts predict that GAP will post 2.06 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Wednesday, October 9th were given a $0.243 dividend. This represents a $0.97 annualized dividend and a yield of 5.83%. The ex-dividend date of this dividend was Tuesday, October 8th. This is a boost from GAP’s previous quarterly dividend of $0.24. GAP’s dividend payout ratio (DPR) is presently 37.45%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Smithfield Trust Co. increased its position in GAP by 156.7% in the 3rd quarter. Smithfield Trust Co. now owns 2,785 shares of the apparel retailer’s stock valued at $48,000 after acquiring an additional 1,700 shares in the last quarter. Atlas Capital Advisors LLC acquired a new stake in shares of GAP during the 2nd quarter worth approximately $52,000. Cerebellum GP LLC acquired a new stake in shares of GAP during the 3rd quarter worth approximately $130,000. Signaturefd LLC grew its position in shares of GAP by 52.5% during the 3rd quarter. Signaturefd LLC now owns 6,104 shares of the apparel retailer’s stock worth $106,000 after buying an additional 2,101 shares during the period. Finally, ETF Managers Group LLC acquired a new stake in shares of GAP during the 2nd quarter worth approximately $128,000. Hedge funds and other institutional investors own 59.75% of the company’s stock.

GAP Company Profile

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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