GAP (NYSE:GAP) Price Target Raised to $30.00

GAP (NYSE:GAP) had its price objective increased by Wells Fargo & Company from $28.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on GAP. Barclays raised their price target on shares of GAP from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday. Telsey Advisory Group reissued a “market perform” rating and set a $26.00 price target on shares of GAP in a report on Monday, November 18th. Argus upgraded GAP to a “hold” rating in a research note on Thursday, September 19th. Bank of America boosted their target price on shares of GAP from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their target price on GAP from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $28.30.

GAP Stock Up 12.8 %

GAP stock opened at $24.87 on Friday. The stock has a fifty day simple moving average of $21.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.49 and a quick ratio of 0.84. GAP has a twelve month low of $18.34 and a twelve month high of $30.75. The company has a market capitalization of $9.36 billion, a P/E ratio of 11.51, a PEG ratio of 1.26 and a beta of 2.35.

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 the consensus estimate of $0.39 by $0.15. GAP had a return on equity of 30.10% and a net margin of 5.40%. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.61 billion. As a group, equities analysts expect that GAP will post 1.87 earnings per share for the current fiscal year.

GAP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Wednesday, January 8th. GAP’s payout ratio is presently 27.78%.

Insiders Place Their Bets

In other GAP news, CEO Horacio Barbeito sold 75,385 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $20.00, for a total value of $1,507,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 31.00% of the stock is currently owned by insiders.

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.