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

GAP (NYSE:GAP) had its price target raised by Bank of America from $25.00 to $28.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

GAP has been the topic of several other research reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $26.00 price target on shares of GAP in a report on Monday, November 18th. Argus raised shares of GAP to a “hold” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. increased 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. Finally, Wells Fargo & Company dropped their price objective on shares of GAP from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, GAP has an average rating of “Hold” and a consensus target price of $28.30.

GAP Stock Performance

Shares of GAP opened at $24.87 on Friday. GAP has a fifty-two week low of $18.34 and a fifty-two week high of $30.75. The business has a 50-day moving average price of $21.39. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.26 and a beta of 2.35. The company has a current ratio of 1.49, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51.

GAP (NYSE:GAP) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.54 earnings per share 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 company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. As a group, research analysts predict that GAP will post 1.87 earnings per share for the current fiscal year.

GAP Dividend Announcement

The company 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 $0.15 dividend. 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 27.78%.

Insider Buying and Selling at GAP

In related news, CEO Horacio Barbeito sold 75,385 shares of GAP stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 31.00% of the stock is currently owned by corporate 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.