Gap’s third-quarter profit drops almost 18 percent
The brokerage now has a “neutral” rating on the apparel retailer’s stock.
Barron’s Johanna Bennett first recommended shares of the Gap back in June, when the stock traded near $20. Gap has a 1-year low of $17.00 and a 1-year high of $30.74. The return on equity ratio or ROE stands at 27.9 percent while most common profitability ratio return on investment (ROI) was 22.8 percent.
The company’s Athleta brand continued to build upon its success as a performance and lifestyle brand, growing its footprint to 130 stores at the end of the third quarter of fiscal year 2016. Toronto Dominion Bank now owns 6,691 shares of the apparel retailer’s stock valued at $149,000 after buying an additional 5,245 shares during the last quarter.
Meyer has a “neutral” rating and a $28 price target on Gap’s stock. The firm earned “Market Perform” rating on Tuesday, September 1 by FBR Capital.
In the profitability analysis, net profit margin of the firm was recorded at 4.60% and operating profit margin was calculated at 8.20% while gross profit margin was measured as 35.60%.
Citi moves to a Sell rating on Gap (NYSE:GPS) after digesting the company’s earnings report and conference call.
Blackrock Group Limited reported 2.05 million shares or 0.02% of all its holdings.
Total revenue of US$3.8bn was ahead of market expectations of US$3.74bn but like-for-like sales (LFL) were down 3% year-on-year, once the effects of the Fishkill distribution center fire were stripped out. Its six months performance indicated a bullish movement while its yearly performance reflected a positive trend of 25.70%. (NYSE:GPS) from a hold rating to a sell rating in a research report report published on Monday. The ratio dropped, as 67 funds sold all Gap Inc shares owned while 109 reduced positions. GPS’s value Change from Open was at 4.57% with a Gap of -2.48%.
Gap reaffirmed its adjusted profit forecast of $1.87 to $1.92 per share for the full year. The company’s 50-day moving average is $26.38 and its 200-day moving average is $23.32.
Although its Athleta athletic and athleisure brand is faring better, with new stores bringing its total in the quarter to 130 stores, Gap now expects net closures of 65 company-operated stores in fiscal year 2016 and a 3% reduction of square footage as compared to last year. The Closing price before the company posted its earnings was $25.88.
The number of people receiving benefits fell 66,000 to 1.98 million, the fewest in more than 16 years. On the 7th day After Earnings Report, the stock hit its share price as $26.39 by showing 1.97% increase from the Stock price Before Earnings were reported. Gulf Intll Bancorp (Uk) Ltd last reported 0.03% of its portfolio in the stock. The surprise element in dollar terms was $0 per share and in fraction terms it was 0%. Announces Fourth Quarter Dividend” with publication date: “November 02, 2016. GPS EVP & CFO SIMMONS SABRINA also sold 17,545 shares, at a stock price of $29.52.
Gap executives said Thursday the company is still struggling to draw shoppers into its stores.
Global Positioning System has been the subject of a number of other reports. Thus showing a Surprise of 0 percent.