GAP (NYSE:GAP) Price Target Raised to $28.00

GAP (NYSE:GAP) had its target price hoisted by JPMorgan Chase & Co. from $26.00 to $28.00 in a report released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also commented on GAP. Argus upgraded GAP to a “hold” rating in a research report on Thursday, September 19th. Morgan Stanley upped their target price on GAP from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday. Telsey Advisory Group restated a “market perform” rating and issued a $26.00 price objective on shares of GAP in a report on Monday, November 18th. Bank of America raised their price objective on GAP from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Friday. Finally, Wells Fargo & Company lifted their price target on GAP from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday. One investment 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 an average rating of “Hold” and an average price target of $28.30.

GAP Stock Down 0.1 %

GAP opened at $24.85 on Friday. GAP has a 52-week low of $18.34 and a 52-week high of $30.75. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $9.35 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.35 and a beta of 2.35. The firm’s 50-day moving average is $21.48.

GAP (NYSE:GAP) last issued its earnings results on Thursday, August 29th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. GAP had a return on equity of 29.03% and a net margin of 5.40%. On average, research analysts anticipate that GAP will post 1.97 EPS for the current fiscal year.

GAP Dividend Announcement

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

Insider Buying and Selling at GAP

In other news, CEO Horacio Barbeito sold 75,385 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this link. 31.00% of the stock is currently owned by corporate 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.