Equity Analysts at the Firm lowers the price target to $33 per share from $38 per share. Finally, KeyBanc restated an “equal weight” rating on shares of Gap in a research note on Friday, May 22nd. They issued a “sector perform” rating and a $45.00 price target for the company. Susquehanna decreased their price objective on Gap from $48.00 to $47.00 and set a positive rating for the company in a research report on Wednesday, August 12th. Four research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and six have issued a buy rating to the company. Gap now has an average rating of “Hold” and a consensus target price of $35.80. FactSet says analysts expect $2.74 per share on average. Also, Director Jorge P. Montoya sold 7,500 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $38.32, for a total value of $44,336.24. The disclosure for this sale can be found here. 9,606,638 shares of the stock traded hands. The stock has a 50-day moving average of $36.43 and a 200-day moving average of $39.34. The results were in line with estimates Gap gave last week.
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AMERICAN apparel retailer Gap reported a fall in quarterly profit for the second consecutive quarter yesterday.
Gap posted 2% decline in sales to $3.9bn during the quarter.
Gap Inc said it expects to earn between $US2.75 and $US2.80 per share for the year.
The firm also recently disclosed a quarterly dividend, which will be distributed on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be given a dividend of $0.23 per share. The ex-dividend date is Monday, October 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.86%.
Gap, Inc.is working to elevate its product offerings before boosting marketing for its ailing namesake brand and Banana Republic, said CEO Art Peck.
Hole is preserving its fiscal-year revenue forecast unchanged after the retailer confirmed it continued to wrestle within the second quarter, with gross sales rising at its Previous Navy shops whereas enterprise at Hole and Banana Republic shops weakened.
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Image: Gap store at at Hillcrest Mall. The decline was driven mainly by the Banana Republic brand; the absence of the Piperlime e-commerce brand, which Gap shuttered during the first quarter of 2015; and the Gap brand, to a lesser extent, said Chief Financial Officer Sabrina Simmons, on the conference call. Gap contains GapMaternity, babyGap, GapKids, GapBody and ranges that are GapFit.
