StockNews.com Begins Coverage on GAP (NYSE:GPS)

StockNews.com started coverage on shares of GAP (NYSE:GPS) in a report issued on Monday morning. The firm issued a buy rating on the apparel retailer’s stock.

A number of other analysts have also weighed in on GPS. Barclays increased their price objective on shares of GAP from $28.00 to $31.00 and gave the stock an overweight rating in a research report on Monday, June 3rd. Evercore ISI lifted their price objective on shares of GAP from $24.00 to $32.00 and gave the company an outperform rating in a report on Friday, May 31st. Bank of America raised shares of GAP from an underperform rating to a neutral rating and lifted their price objective for the company from $18.50 to $25.00 in a report on Wednesday, July 31st. Morgan Stanley upgraded shares of GAP from an equal weight rating to an overweight rating and raised their target price for the company from $27.00 to $29.00 in a research note on Thursday, July 18th. Finally, BMO Capital Markets lifted their price objective on shares of GAP from $18.00 to $23.00 and gave the stock a market perform rating in a research note on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $27.08.

GAP Stock Performance

The company has a current ratio of 1.50, a quick ratio of 0.80 and a debt-to-equity ratio of 0.55. GAP has a 1-year low of $9.38 and a 1-year high of $30.75. The firm has a 50 day simple moving average of $23.24 and a 200-day simple moving average of $22.91. The company has a market cap of $9.21 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 1.40 and a beta of 2.38.

GAP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Wednesday, October 9th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.60 dividend on an annualized basis and a yield of ∞. GAP’s payout ratio is presently 33.33%.

Insider Buying and Selling

In other GAP news, Director Tracy Gardner sold 2,934 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $23.48, for a total value of $68,890.32. Following the transaction, the director now directly owns 51,901 shares in the company, valued at approximately $1,218,635.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 30.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GAP

Large investors have recently made changes to their positions in the stock. Hennessy Advisors Inc. increased its stake in GAP by 14.1% during the 1st quarter. Hennessy Advisors Inc. now owns 2,305,600 shares of the apparel retailer’s stock worth $63,519,000 after buying an additional 285,000 shares during the period. SG Americas Securities LLC acquired a new stake in GAP during the 2nd quarter worth $5,643,000. GAMMA Investing LLC boosted its stake in GAP by 25.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,157 shares of the apparel retailer’s stock worth $52,000 after purchasing an additional 443 shares during the period. First Horizon Advisors Inc. boosted its stake in GAP by 4,441.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,950 shares of the apparel retailer’s stock worth $118,000 after purchasing an additional 4,841 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of GAP by 92.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 59,478 shares of the apparel retailer’s stock worth $1,421,000 after acquiring an additional 28,613 shares during the period. 58.81% of the stock is currently owned by institutional investors and hedge funds.

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.