GAP (NYSE:GPS) Price Target Raised to $20.00 at Morgan Stanley

GAP (NYSE:GPS) had its price objective boosted by stock analysts at Morgan Stanley from $19.00 to $20.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s price objective would suggest a potential downside of 9.58% from the stock’s current price.

A number of other equities analysts also recently weighed in on GPS. Robert W. Baird increased their price target on shares of GAP to $23.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. upgraded shares of GAP from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $20.00 in a report on Monday, February 26th. Barclays lifted their price target on shares of GAP from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Cowen lifted their price target on shares of GAP from $19.00 to $21.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Finally, KGI Securities lifted their price target on shares of GAP from $9.10 to $25.20 and gave the company a “buy” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.33.

GAP Trading Up 2.5 %

Shares of GPS stock traded up $0.53 during mid-day trading on Monday, hitting $22.12. 4,026,367 shares of the company’s stock were exchanged, compared to its average volume of 7,503,604. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.33 and a beta of 2.34. The company has a quick ratio of 0.78, a current ratio of 1.42 and a debt-to-equity ratio of 0.57. GAP has a fifty-two week low of $7.22 and a fifty-two week high of $28.59. The stock has a 50-day simple moving average of $22.76 and a two-hundred day simple moving average of $20.03.

GAP (NYSE:GPS) last issued its quarterly earnings results on Thursday, March 7th. The apparel retailer reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.29. GAP had a return on equity of 22.56% and a net margin of 3.37%. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period last year, the company earned ($0.75) EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts expect that GAP will post 1.36 EPS for the current fiscal year.

Insider Activity

In related news, insider Julie Gruber sold 24,180 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $23.00, for a total value of $556,140.00. Following the transaction, the insider now owns 1,384 shares in the company, valued at $31,832. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Julie Gruber sold 24,180 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $23.00, for a total transaction of $556,140.00. Following the completion of the sale, the insider now owns 1,384 shares of the company’s stock, valued at $31,832. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Katrina O’connell sold 2,724 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $23.70, for a total transaction of $64,558.80. The disclosure for this sale can be found here. Insiders sold 266,723 shares of company stock worth $6,886,765 over the last ninety days. Corporate insiders own 31.00% of the company’s stock.

Hedge Funds Weigh In On GAP

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC bought a new stake in GAP during the fourth quarter valued at $42,000. New York State Teachers Retirement System raised its stake in GAP by 1.2% during the fourth quarter. New York State Teachers Retirement System now owns 263,675 shares of the apparel retailer’s stock worth $5,513,000 after acquiring an additional 3,109 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in GAP during the fourth quarter worth about $73,000. Nisa Investment Advisors LLC lifted its holdings in GAP by 11.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 41,265 shares of the apparel retailer’s stock worth $863,000 after acquiring an additional 4,200 shares during the last quarter. Finally, VitalStone Financial LLC bought a new position in shares of GAP during the fourth quarter valued at approximately $197,000. Institutional investors own 58.81% of the company’s stock.

GAP Company Profile

The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.