GAP (NYSE:GPS) Shares Up 16.9%

Gap Inc (NYSE:GPS) shares shot up 16.9% on Wednesday . The company traded as high as $8.23 and last traded at $9.50, 733,678 shares changed hands during mid-day trading. A decline of 94% from the average session volume of 11,657,478 shares. The stock had previously closed at $8.13.

A number of brokerages have recently weighed in on GPS. Jefferies Financial Group lowered shares of GAP from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $24.00 to $17.00 in a report on Monday, January 6th. Robert W. Baird lowered their price objective on shares of GAP from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, March 13th. B. Riley lowered their price objective on shares of GAP from $16.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday. Cfra lowered their price objective on shares of GAP from $14.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 13th. Finally, Wedbush lowered their price objective on shares of GAP from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Seven equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $14.12.

The company has a debt-to-equity ratio of 2.04, a current ratio of 1.41 and a quick ratio of 0.74. The firm’s 50 day moving average is $13.85 and its 200 day moving average is $16.47. The company has a market capitalization of $3.02 billion, a PE ratio of 9.18, a P/E/G ratio of 0.66 and a beta of 0.88.

GAP (NYSE:GPS) last issued its earnings results on Thursday, March 12th. The apparel retailer reported $0.58 EPS for the quarter, topping the consensus estimate of $0.41 by $0.17. GAP had a net margin of 2.14% and a return on equity of 21.04%. The company had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts predict that Gap Inc will post 1.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Investors of record on Wednesday, April 8th will be paid a $0.2425 dividend. This represents a $0.97 annualized dividend and a dividend yield of 11.48%. The ex-dividend date of this dividend is Tuesday, April 7th. GAP’s payout ratio is 49.24%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Orion Portfolio Solutions LLC purchased a new position in shares of GAP in the fourth quarter worth $44,000. FNY Investment Advisers LLC purchased a new position in GAP during the 4th quarter valued at $45,000. Sunbelt Securities Inc. purchased a new position in GAP during the 4th quarter valued at $11,934,000. Cullen Frost Bankers Inc. purchased a new position in GAP during the 4th quarter valued at $51,000. Finally, Vestcor Investment Management Corp purchased a new position in GAP during the 4th quarter valued at $65,000. 60.32% of the stock is currently owned by institutional investors.

GAP Company Profile (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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