The Gap, Inc. (NYSE:GPS – Get Rating) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totalling 31,450,000 shares, an increase of 6.4% from the April 30th total of 29,560,000 shares. Based on an average daily volume of 9,140,000 shares, the days-to-cover ratio is presently 3.4 days. Approximately 15.2% of the shares of the stock are short sold.
GAP Stock Down 4.6 %
Shares of NYSE:GPS opened at $8.02 on Thursday. The company has a market capitalization of $2.94 billion, a PE ratio of -50.12, a price-to-earnings-growth ratio of 1.23 and a beta of 1.91. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.47 and a quick ratio of 0.68. The business has a fifty day moving average price of $8.89 and a two-hundred day moving average price of $11.48. GAP has a 1 year low of $7.22 and a 1 year high of $15.49.
GAP (NYSE:GPS – Get Rating) last posted its quarterly earnings results on Thursday, May 25th. The apparel retailer reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.17. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.28 billion. GAP had a positive return on equity of 0.86% and a negative net margin of 0.38%. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.44) EPS. Analysts forecast that GAP will post 0.56 earnings per share for the current year.
GAP Dividend Announcement
Analyst Ratings Changes
Several analysts recently commented on GPS shares. Telsey Advisory Group reiterated a “market perform” rating and issued a $15.00 target price on shares of GAP in a report on Monday, March 6th. Citigroup upgraded GAP from a “sell” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $8.00 in a report on Friday, May 19th. Jefferies Financial Group lowered their target price on GAP from $11.00 to $9.00 in a research report on Tuesday, May 9th. Bank of America lowered their target price on GAP from $9.50 to $8.50 in a research report on Friday, May 26th. Finally, StockNews.com began coverage on GAP in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.47.
Insider Activity at GAP
In other news, CEO Mark Breitbard sold 22,918 shares of the business’s stock in a transaction dated Friday, March 24th. The stock was sold at an average price of $8.78, for a total transaction of $201,220.04. Following the sale, the chief executive officer now directly owns 123,985 shares in the company, valued at $1,088,588.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 30.81% of the stock is owned by insiders.
Institutional Trading of GAP
Several institutional investors and hedge funds have recently modified their holdings of GPS. Geode Capital Management LLC lifted its position in GAP by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 2,891,096 shares of the apparel retailer’s stock worth $29,027,000 after buying an additional 83,032 shares during the last quarter. BNP Paribas Arbitrage SNC increased its stake in shares of GAP by 57.0% during the first quarter. BNP Paribas Arbitrage SNC now owns 1,325,293 shares of the apparel retailer’s stock valued at $13,306,000 after buying an additional 481,339 shares during the period. Pinkerton Retirement Specialists LLC increased its stake in shares of GAP by 13.4% during the first quarter. Pinkerton Retirement Specialists LLC now owns 56,992 shares of the apparel retailer’s stock valued at $572,000 after buying an additional 6,742 shares during the period. New Mexico Educational Retirement Board increased its stake in shares of GAP by 15.4% during the first quarter. New Mexico Educational Retirement Board now owns 38,200 shares of the apparel retailer’s stock valued at $384,000 after buying an additional 5,100 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of GAP by 207.0% during the first quarter. SG Americas Securities LLC now owns 46,477 shares of the apparel retailer’s stock valued at $467,000 after buying an additional 31,340 shares during the period. Hedge funds and other institutional investors own 57.72% 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.
Read More
- Get a free copy of the StockNews.com research report on GAP (GPS)
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