GAP (NYSE:GAP) Price Target Raised to $33.00 at Evercore ISI

GAP (NYSE:GAP) had its price objective raised by Evercore ISI from $32.00 to $33.00 in a research note released on Friday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

GAP has been the subject of a number of other research reports. Wells Fargo & Company boosted their price target on GAP from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday. Barclays upped their price objective on shares of GAP from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on shares of GAP from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday. Argus raised shares of GAP to a “hold” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley raised their price objective on shares of GAP from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.30.

GAP Price Performance

Shares of NYSE GAP opened at $24.87 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.49 and a quick ratio of 0.84. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.26 and a beta of 2.35. GAP has a 1-year low of $18.34 and a 1-year high of $30.75. The stock has a fifty day moving average of $21.39.

GAP (NYSE:GAP) last posted its earnings results on Thursday, August 29th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. GAP had a net margin of 5.40% and a return on equity of 30.10%. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. Equities research analysts expect that GAP will post 1.87 earnings per share for the current fiscal year.

GAP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.41%. GAP’s dividend payout ratio (DPR) is 27.78%.

Insiders Place Their Bets

In other news, CEO Horacio Barbeito sold 75,385 shares of GAP stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total transaction of $1,507,700.00. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 31.00% of the company’s stock.

About GAP

The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.