GAP (NYSE:GPS) Coverage Initiated by Analysts at StockNews.com

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

A number of other equities analysts also recently weighed in on GPS. BMO Capital Markets increased their price target 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. Telsey Advisory Group increased their price objective on shares of GAP from $22.00 to $29.00 and gave the stock a market perform rating in a research report on Friday, May 31st. Evercore ISI increased their price objective on shares of GAP from $24.00 to $32.00 and gave the stock an outperform rating in a research report on Friday, May 31st. Bank of America raised shares of GAP from an underperform rating to a neutral rating and increased their price objective for the stock from $18.50 to $25.00 in a research report on Wednesday, July 31st. Finally, TD Cowen raised shares of GAP from a hold rating to a buy rating and raised their price target for the company from $28.00 to $30.00 in a report on Tuesday, June 25th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $26.51.

GAP Stock Performance

Shares of GPS opened at $24.55 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.80 and a current ratio of 1.50. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.40 and a beta of 2.38. The company’s 50 day simple moving average is $23.29 and its 200 day simple moving average is $22.85. GAP has a 1 year low of $9.38 and a 1 year high of $30.75.

GAP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.44%. GAP’s payout ratio is currently 33.33%.

Insider Transactions at GAP

In other news, Director Tracy Gardner sold 2,934 shares of the firm’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 legal filing with the SEC, which is available at this link. Insiders own 30.81% of the company’s stock.

Institutional Trading of GAP

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in GAP during the 4th quarter valued at about $42,000. BNP Paribas Financial Markets increased its stake in GAP by 33.0% during the 4th quarter. BNP Paribas Financial Markets now owns 367,130 shares of the apparel retailer’s stock valued at $7,677,000 after buying an additional 91,151 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in GAP during the 4th quarter valued at about $73,000. Ontario Teachers Pension Plan Board acquired a new position in GAP during the 4th quarter valued at about $220,000. Finally, United Services Automobile Association acquired a new position in GAP during the 4th quarter valued at about $349,000. 58.81% of the stock is currently owned by institutional investors.

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.