Zacks Investment Research Upgrades Gap, Inc. (The) (GPS) to Buy

Gap, Inc. (The) (NYSE:GPS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm presently has a $29.00 price objective on the apparel retailer’s stock. Zacks Investment Research‘s price target indicates a potential upside of 5.03% from the company’s current price.

According to Zacks, “Gap’s shares have outpaced the industry in the last three months, driven by its solid focus on enhancing product quality and responsiveness to changing consumer trends. Evidently, the company has been making constant efforts to boost its digital and mobile offerings, alongside improving product acceptance. Further, the company’s new growth strategy focused on growing its Old Navy and Athleta brands looks promising. The company expects to open 270 new Old Navy and Athleta stores, while closing 200 Gap and Banana Republic stores. Additionally, Gap’s second-quarter fiscal 2017 marked its second straight earnings beat, and sales topped estimates for the fifth consecutive quarter. The company’s growth efforts and a solid first half encouraged management to raise fiscal 2017 earnings view. However, currency woes are likely to persist in fiscal 2017. It also expects high SG&A expenses in third quarter to impede results.”

Several other research firms also recently commented on GPS. CIBC raised shares of Gap, Inc. (The) from a “market perform” rating to an “outperform” rating in a research note on Monday, June 5th. Oppenheimer Holdings, Inc. set a $28.00 price target on shares of Gap, Inc. (The) and gave the stock a “buy” rating in a research note on Thursday, August 17th. Vetr upgraded shares of Gap, Inc. (The) from a “sell” rating to a “hold” rating and set a $24.84 target price on the stock in a report on Monday, May 15th. ValuEngine cut shares of Gap, Inc. (The) from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Jefferies Group LLC set a $35.00 target price on shares of Gap, Inc. (The) and gave the stock a “buy” rating in a report on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.01.

Shares of Gap, Inc. (NYSE GPS) opened at 27.61 on Monday. Gap, Inc. has a 52 week low of $21.02 and a 52 week high of $30.74. The stock’s 50 day moving average is $23.74 and its 200-day moving average is $23.73. The company has a market cap of $10.83 billion, a price-to-earnings ratio of 13.15 and a beta of 0.82.

Gap, Inc. (The) (NYSE:GPS) last posted its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.06. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.77 billion. Gap, Inc. (The) had a net margin of 5.42% and a return on equity of 28.50%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. On average, equities analysts anticipate that Gap, Inc. will post $2.06 earnings per share for the current year.

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In other Gap, Inc. (The) news, EVP Paul Joseph Chapman sold 4,898 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $22.82, for a total transaction of $111,772.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sonia Syngal sold 1,935 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $25.79, for a total transaction of $49,903.65. Following the transaction, the chief executive officer now directly owns 39,656 shares of the company’s stock, valued at $1,022,728.24. The disclosure for this sale can be found here. Insiders have sold a total of 9,833 shares of company stock valued at $231,606 over the last three months. 27.30% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nationwide Fund Advisors increased its holdings in shares of Gap, Inc. (The) by 90.6% during the 1st quarter. Nationwide Fund Advisors now owns 118,671 shares of the apparel retailer’s stock valued at $2,883,000 after purchasing an additional 56,424 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Gap, Inc. (The) by 140.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 232,900 shares of the apparel retailer’s stock valued at $5,657,000 after purchasing an additional 135,900 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Gap, Inc. (The) by 2.8% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 38,076 shares of the apparel retailer’s stock valued at $925,000 after purchasing an additional 1,035 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Gap, Inc. (The) by 2.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 206,019 shares of the apparel retailer’s stock valued at $5,000,000 after purchasing an additional 5,607 shares in the last quarter. Finally, State Treasurer State of Michigan increased its holdings in shares of Gap, Inc. (The) by 0.4% during the 1st quarter. State Treasurer State of Michigan now owns 72,046 shares of the apparel retailer’s stock valued at $1,750,000 after purchasing an additional 300 shares in the last quarter. 56.21% of the stock is owned by institutional investors.

Gap, Inc. (The) Company Profile

The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.

Analyst Recommendations for Gap, Inc. (The) (NYSE:GPS)

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