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

GAP (NYSE:GAP) had its price objective boosted by JPMorgan Chase & Co. from $26.00 to $28.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently issued reports on GAP. Barclays lifted their price target on GAP from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday. Telsey Advisory Group reiterated a “market perform” rating and set a $26.00 price target on shares of GAP in a research report on Monday, November 18th. Wells Fargo & Company raised their price objective on GAP from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America raised their price target on GAP from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Morgan Stanley raised their target price on shares of GAP from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.30.

GAP Price Performance

NYSE GAP opened at $24.87 on Friday. GAP has a one year low of $18.34 and a one year high of $30.75. The business’s fifty day simple moving average is $21.39. The company has a market cap of $9.36 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.26 and a beta of 2.35. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 0.51.

GAP (NYSE:GAP) last posted its earnings results on Thursday, August 29th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.15. The firm 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 30.10%. Research analysts expect that GAP will post 1.87 EPS for the current fiscal year.

GAP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders 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 yield of 2.41%. The ex-dividend date is Wednesday, January 8th. GAP’s dividend payout ratio is currently 27.78%.

Insiders Place Their Bets

In related news, CEO Horacio Barbeito sold 75,385 shares of the 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 31.00% of the company’s stock.

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.