GAP (GPS) Lowered to Underweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of GAP (NYSE:GPS) from a neutral rating to an underweight rating in a report issued on Thursday, MarketBeat.com reports. They currently have $24.00 price objective on the apparel retailer’s stock, down from their previous price objective of $30.00.

A number of other research firms have also recently issued reports on GPS. UBS Group assumed coverage on GAP in a research report on Thursday, June 21st. They issued a neutral rating and a $33.00 target price on the stock. B. Riley decreased their target price on GAP from $35.00 to $33.00 and set a neutral rating on the stock in a research report on Friday, August 24th. Guggenheim reiterated a hold rating on shares of GAP in a research report on Friday, August 24th. Zacks Investment Research cut GAP from a buy rating to a hold rating in a research report on Tuesday, August 21st. Finally, Wedbush assumed coverage on GAP in a research report on Friday, August 10th. They issued a neutral rating and a $32.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $33.13.

GAP stock traded down $0.01 during midday trading on Thursday, reaching $25.56. The company’s stock had a trading volume of 312,201 shares, compared to its average volume of 4,783,804. GAP has a 52 week low of $25.34 and a 52 week high of $35.68. The company has a quick ratio of 1.02, a current ratio of 1.96 and a debt-to-equity ratio of 0.37. The stock has a market cap of $10.44 billion, a PE ratio of 12.01, a P/E/G ratio of 1.17 and a beta of 0.64.

GAP (NYSE:GPS) last released its earnings results on Thursday, August 23rd. The apparel retailer reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.04. GAP had a return on equity of 29.25% and a net margin of 5.43%. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the business posted $0.58 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, analysts expect that GAP will post 2.59 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Wednesday, October 10th will be issued a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Tuesday, October 9th. GAP’s payout ratio is presently 45.54%.

A number of hedge funds have recently made changes to their positions in the stock. Cornerstone Wealth Management LLC bought a new stake in GAP in the third quarter valued at approximately $204,000. Polaris Greystone Financial Group LLC bought a new stake in GAP in the third quarter valued at approximately $250,000. Empowered Funds LLC boosted its holdings in GAP by 8.2% in the third quarter. Empowered Funds LLC now owns 105,660 shares of the apparel retailer’s stock valued at $3,030,000 after acquiring an additional 7,976 shares during the last quarter. Tealwood Asset Management Inc. bought a new stake in GAP in the third quarter valued at approximately $3,380,000. Finally, Gateway Investment Advisers LLC boosted its holdings in GAP by 25.4% in the third quarter. Gateway Investment Advisers LLC now owns 269,831 shares of the apparel retailer’s stock valued at $7,785,000 after acquiring an additional 54,692 shares during the last quarter. Institutional investors and hedge funds own 58.10% 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, and Intermix 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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Analyst Recommendations for GAP (NYSE:GPS)

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