GAP (NYSE:GAP) Given New $28.00 Price Target at Bank of America

GAP (NYSE:GAP) had its price objective boosted by Bank of America from $25.00 to $28.00 in a research note issued to investors on Friday,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other research firms have also weighed in on GAP. Wells Fargo & Company lowered their price objective on shares of GAP from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their price target on shares of GAP from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Telsey Advisory Group reiterated a “market perform” rating and set a $26.00 price objective on shares of GAP in a research report on Monday, November 18th. Finally, Argus upgraded shares of GAP to a “hold” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, GAP has a consensus rating of “Hold” and a consensus target price of $28.30.

GAP Trading Down 0.1 %

GAP stock opened at $24.85 on Friday. The company 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. GAP has a 1-year low of $18.34 and a 1-year high of $30.75. The company has a fifty day simple moving average of $21.48. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47.

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

GAP Announces Dividend

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

Insider Buying and Selling

In other news, CEO Horacio Barbeito sold 75,385 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at this link. 31.00% of the stock is owned by insiders.

GAP Company Profile

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.