Citigroup Trims GAP (NYSE:GPS) Target Price to $7.00

GAP (NYSE:GPSGet Rating) had its price target decreased by Citigroup from $8.00 to $7.00 in a report issued on Friday, The Fly reports.

GPS has been the topic of several other reports. Barclays cut shares of GAP from an equal weight rating to an underweight rating and dropped their target price for the stock from $17.00 to $13.00 in a report on Friday, April 1st. Daiwa Capital Markets cut shares of GAP from a neutral rating to an underperform rating and set a $13.75 price target on the stock. in a report on Wednesday, March 9th. B. Riley lowered their price target on shares of GAP from $15.00 to $13.00 and set a neutral rating on the stock in a report on Friday, April 22nd. Bank of America cut shares of GAP from a neutral rating to an underperform rating and lowered their price target for the company from $26.00 to $14.00 in a report on Tuesday, February 15th. Finally, Wells Fargo & Company lowered their price target on shares of GAP from $25.00 to $20.00 and set an overweight rating on the stock in a report on Tuesday, April 5th. Seven investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, GAP has a consensus rating of Hold and a consensus target price of $14.14.

GPS stock opened at $11.60 on Friday. The company has a market capitalization of $4.29 billion, a PE ratio of 17.58, a P/E/G ratio of 0.73 and a beta of 1.66. GAP has a 12 month low of $9.24 and a 12 month high of $35.14. The firm’s 50-day moving average is $13.01 and its 200 day moving average is $15.83. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.27 and a quick ratio of 0.53.

GAP (NYSE:GPSGet Rating) last posted its quarterly earnings results on Thursday, May 26th. The apparel retailer reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.31). GAP had a return on equity of 19.48% and a net margin of 1.54%. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the prior year, the business earned $0.48 EPS. The company’s quarterly revenue was down 12.9% on a year-over-year basis. Sell-side analysts forecast that GAP will post 1.28 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date of this dividend is Tuesday, July 5th. GAP’s dividend payout ratio is presently 90.91%.

Large investors have recently bought and sold shares of the company. Dodge & Cox grew its stake in GAP by 6.0% in the 4th quarter. Dodge & Cox now owns 24,490,528 shares of the apparel retailer’s stock valued at $432,258,000 after acquiring an additional 1,381,050 shares during the period. Russell Investments Group Ltd. grew its stake in GAP by 600.2% in the 4th quarter. Russell Investments Group Ltd. now owns 899,727 shares of the apparel retailer’s stock valued at $15,877,000 after acquiring an additional 771,230 shares during the period. Bank of New York Mellon Corp grew its stake in GAP by 15.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,138,643 shares of the apparel retailer’s stock valued at $44,192,000 after acquiring an additional 415,813 shares during the period. American International Group Inc. grew its stake in GAP by 470.4% in the 1st quarter. American International Group Inc. now owns 360,438 shares of the apparel retailer’s stock valued at $5,075,000 after acquiring an additional 297,247 shares during the period. Finally, FMR LLC grew its stake in GAP by 1,723.2% in the 1st quarter. FMR LLC now owns 251,986 shares of the apparel retailer’s stock valued at $6,597,000 after acquiring an additional 238,165 shares during the period. 58.23% of the stock is owned by hedge funds and other institutional investors.

GAP Company Profile (Get Rating)

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 denim, tees, fleece, and khakis; eyewear, jewelry, shoes, handbags, and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.

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