In yesterday’s Wall Street session, The Gap Inc. (NYSE:GPS) shares traded at $9.47, up 1.18% from the previous session.
As of this writing, 20 analysts cover The Gap Inc. (NYSE:GPS). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $18.00 and a low of $6.00, we find $10.00. Given the previous closing price of $9.36, this indicates a potential upside of 6.84 percent. GPS stock price is now 6.66% away from the 50-day moving average and -13.28% away from the 200-day moving average. The market capitalization of the company currently stands at $3.24B.
There are 12 analysts who have given it a hold rating, whereas 3 have given it a buy rating. Brokers who have rated the stock have averaged $10.34 as their price target over the next twelve months.
With the price target reduced from $10 to $8, Citigroup Upgraded its rating from Sell to Neutral for The Gap Inc. (NYSE: GPS).
In other news, Barbeito Horacio, President & CEO, Old Navy sold 790 shares of the company’s stock on Jun 01. The stock was sold for $6,232 at an average price of $7.89. Upon completion of the transaction, the President & CEO, Old Navy now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 24, President & CEO, Gap Brand Breitbard Mark sold 22,918 shares of the business’s stock. A total of $201,268 was realized by selling the stock at an average price of $8.78. This leaves the insider owning 123,985 shares of the company worth $1.17 million. Insiders disposed of 950,835 shares of company stock worth roughly $9.0 million over the past 1 year. A total of 5.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GPS stock. A new stake in The Gap Inc. shares was purchased by CANDLESTICK CAPITAL MANAGEMENT LP during the first quarter worth $26,411,000. SOLAS CAPITAL MANAGEMENT, LLC invested $7,848,000 in shares of GPS during the first quarter. In the first quarter, DUALITY ADVISERS, LP acquired a new stake in The Gap Inc. valued at approximately $2,795,000. ERGOTELES LLC acquired a new stake in GPS for approximately $2,509,000. AMG NATIONAL TRUST BANK purchased a new stake in GPS valued at around $2,430,000 in the second quarter. In total, there are 502 active investors with 59.30% ownership of the company’s stock.
Thursday morning saw The Gap Inc. (NYSE: GPS) opened at $9.31. During the past 12 months, The Gap Inc. has had a low of $7.22 and a high of $15.49. As of last week, the company has a debt-to-equity ratio of 0.84, a current ratio of 1.50, and a quick ratio of 0.70. The fifty day moving average price for GPS is $8.89 and a two-hundred day moving average price translates $10.92 for the stock.
The latest earnings results from The Gap Inc. (NYSE: GPS) was released for Apr, 2023. According to the Apparel Retail Company, earnings per share came in at $0.01, beating analysts’ expectations of -$0.16 by 0.17. This compares to -$0.44 EPS in the same period last year. The net profit margin was -0.40% and return on equity was -2.50% for GPS. The company reported revenue of $3.28 billion for the quarter, compared to $3.48 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -5.78 percent. For the current quarter, analysts expect GPS to generate $3.58B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/26/2023. Investors who held shares on 07/05/2023 were paid a $0.15 dividend. On an annualized basis, this represents a $0.60 dividend and a 6.34% percent yield. There was an ex-dividend date of 07/03/2023 for this dividend.
The Gap Inc.(GPS) 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 denim 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. The company offers its products through company-operated stores, franchise stores, websites, and third-party arrangements. It has franchise agreements to operate Old Navy, Gap, Banana Republic, and Athleta stores and websites in Asia, Europe, Latin America, the Middle East, and Africa. The company also provides its products through e-commerce sites. The Gap, Inc. was incorporated in 1969 and is headquartered in San Francisco, California.