Citigroup Lowers GAP (NYSE:GAP) Price Target to $22.00

GAP (NYSE:GAP) had its price objective reduced by investment analysts at Citigroup from $32.00 to $22.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 8.64% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. UBS Group cut their target price on GAP from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Telsey Advisory Group reiterated a “market perform” rating and issued a $26.00 target price on shares of GAP in a research note on Friday, March 7th. Barclays raised their target price on GAP from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Argus upgraded GAP from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised their target price on GAP from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, GAP currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.69.

GAP Stock Up 14.8 %

Shares of NYSE:GAP opened at $20.25 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.47. GAP has a 52-week low of $16.99 and a 52-week high of $26.41. The company has a 50 day moving average of $21.35 and a two-hundred day moving average of $22.44. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 0.94 and a beta of 2.15.

GAP (NYSE:GAP) last released its quarterly earnings results on Thursday, March 6th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.18. GAP had a net margin of 5.40% and a return on equity of 29.03%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.07 billion. As a group, analysts forecast that GAP will post 2.02 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Horacio Barbeito sold 40,764 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $20.07, for a total transaction of $818,133.48. Following the transaction, the chief executive officer now owns 308 shares of the company’s stock, valued at $6,181.56. This represents a 99.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elisabeth B. Donohue sold 3,539 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $21.04, for a total value of $74,460.56. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at $84,160. The trade was a 46.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 177,495 shares of company stock valued at $3,598,459 over the last 90 days. 31.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On GAP

Several hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new position in GAP in the first quarter valued at about $1,971,000. California State Teachers Retirement System acquired a new position in GAP in the fourth quarter valued at about $4,953,000. Finally, Rhumbline Advisers acquired a new position in GAP in the first quarter valued at about $12,210,000. Institutional investors and hedge funds own 58.81% of the company’s stock.

GAP Company Profile

Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.