GAP (NYSE:GPS) Stock Price Down 5.6%

Shares of Gap Inc (NYSE:GPS) dropped 5.6% during trading on Tuesday . The stock traded as low as $15.27 and last traded at $15.37, approximately 9,899,978 shares were traded during mid-day trading. An increase of 87% from the average daily volume of 5,306,516 shares. The stock had previously closed at $16.29.

Several research analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of GAP from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Bank of America restated a “sell” rating and set a $13.00 price target on shares of GAP in a report on Friday, January 17th. Deutsche Bank reduced their price objective on shares of GAP from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Friday, November 8th. B. Riley reiterated a “hold” rating and issued a $18.00 price objective on shares of GAP in a report on Friday, November 22nd. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $16.00 price objective (down from $20.00) on shares of GAP in a report on Friday, November 8th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the stock. GAP presently has a consensus rating of “Hold” and a consensus target price of $17.27.

The company has a market cap of $6.37 billion, a P/E ratio of 7.22, a price-to-earnings-growth ratio of 1.12 and a beta of 0.75. The company has a quick ratio of 0.58, a current ratio of 1.43 and a debt-to-equity ratio of 1.90. The stock’s 50-day moving average price is $17.89 and its 200 day moving average price is $17.28.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its holdings in GAP by 1,723.2% in the 1st quarter. FMR LLC now owns 251,986 shares of the apparel retailer’s stock worth $6,597,000 after acquiring an additional 238,165 shares during the period. BlackRock Inc. boosted its holdings in GAP by 6.9% during the second quarter. BlackRock Inc. now owns 21,828,899 shares of the apparel retailer’s stock valued at $392,265,000 after acquiring an additional 1,415,944 shares during the period. Envestnet Asset Management Inc. boosted its holdings in GAP by 217.4% during the third quarter. Envestnet Asset Management Inc. now owns 361,133 shares of the apparel retailer’s stock valued at $6,269,000 after acquiring an additional 247,345 shares during the period. World Asset Management Inc grew its position in shares of GAP by 10.9% in the third quarter. World Asset Management Inc now owns 22,227 shares of the apparel retailer’s stock valued at $386,000 after purchasing an additional 2,184 shares during the last quarter. Finally, State of Michigan Retirement System grew its position in shares of GAP by 1.8% in the third quarter. State of Michigan Retirement System now owns 51,546 shares of the apparel retailer’s stock valued at $895,000 after purchasing an additional 900 shares during the last quarter. 59.41% of the stock is owned by institutional investors and hedge funds.

About GAP (NYSE:GPS)

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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