GAP (NYSE:GAP) Raised to “Overweight” at JPMorgan Chase & Co.

GAP (NYSE:GAP) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Monday, Marketbeat reports. The brokerage currently has a $30.00 price target on the stock, up from their prior price target of $28.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 16.32% from the stock’s current price.

Several other research firms have also recently issued reports on GAP. Guggenheim reiterated a “buy” rating and set a $35.00 target price on shares of GAP in a research report on Friday, November 22nd. BMO Capital Markets upped their price objective on GAP from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. Telsey Advisory Group reissued a “market perform” rating and issued a $26.00 target price on shares of GAP in a report on Monday, November 18th. Evercore ISI upped their price target on shares of GAP from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, Bank of America raised their price objective on shares of GAP from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, GAP has a consensus rating of “Hold” and an average price target of $28.50.

GAP Price Performance

NYSE GAP opened at $25.79 on Monday. The company has a fifty day moving average of $22.01. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.47. GAP has a 1 year low of $18.34 and a 1 year high of $30.75. The firm has a market capitalization of $9.73 billion, a P/E ratio of 11.94, a PEG ratio of 1.16 and a beta of 2.37.

GAP (NYSE:GAP) last posted its quarterly earnings data on Thursday, November 21st. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.16. GAP had a net margin of 5.40% and a return on equity of 29.03%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same period in the previous year, the business posted $0.59 earnings per share. GAP’s quarterly revenue was up 1.6% on a year-over-year basis. On average, research analysts expect that GAP will post 2 earnings per share for the current year.

Insider Activity

In other news, CEO Horacio Barbeito sold 75,385 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 31.00% of the company’s stock.

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.