Gap Inc (GPS) was Downgraded by Topeka Capital Markets to ” Hold” while Lowering the Price Target of the company shares to $ 22 from a previous price target of $40 . Earlier the firm had a rating of “Buy ” on the company shares. Topeka Capital Markets advised their investors in a research report released on May 10, 2016.
Many Wall Street Analysts have commented on Gap Inc. Shares were Reiterated by Mizuho on May 10, 2016 to “Underperform” and Lowered the Price Target to $ 18 from a previous price target of $23 .Shares were Reiterated by Telsey Advisory Group on May 10, 2016 to “Market Perform” and Lowered the Price Target to $ 23 from a previous price target of $32 .Shares were Reiterated by RBC Capital Mkts on Apr 13, 2016 to “Sector Perform” and Lowered the Price Target to $ 26 from a previous price target of $27 .
On the company’s financial health, Gap Inc reported $0.57 EPS for the quarter, based on the information available during the earnings call on Feb 25, 2016. Analyst had a consensus estimate of $0.57. The company had revenue of $4385.00 million for the quarter, compared to analysts expectations of $4466.16 million. The company’s revenue was down -6.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.75 EPS.
Gap Inc closed down -0.2 points or -0.91% at $21.67 with 99,43,942 shares getting traded on Friday. Post opening the session at $21.725, the shares hit an intraday low of $21.11 and an intraday high of $21.78 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Mar 21, 2016, Andi Owen (Global Pres., Banana Republic) sold 11,381 shares at $30.19 per share price. According to the SEC, on Mar 21, 2016, Sabrina Simmons (EVP & CFO) sold 12,416 shares at $30.25 per share price. On Mar 7, 2016, Solomon Goldfarb (EVP, Digital & Customer Exp.) sold 1,123 shares at $29.54 per share price, according to the Form-4 filing with the securities and exchange commission.
The Gap Inc. is an apparel retail company. The Company offers apparel accessories and personal care products for men women and children under the Gap Banana Republic Old Navy Piperlime Athleta and Intermix brands. In addition to operating in the specialty outlet online and franchise channels Gap Inc. is an apparel retailer in using omni-channel capabilities for digital world and physical stores. Its omni-channel services include order-in-store reserve-in-store find-in-store and ship-from-store that are tailored across its portfolio of brands. Gap includes GapKids babyGap GapMaternity GapBody and GapFit collections. It also offers handbags shoes jewelry eyewear and personal care products among others. It has Company-operated stores in the United States Canada the United Kingdom France Ireland Japan Italy China and Hong Kong. It operates Gap Banana Republic and Old Navy stores throughout Asia Australia Europe Latin America the Middle East and Africa.