Wells Fargo & Company Has Lowered Expectations for GAP (NYSE:GAP) Stock Price

GAP (NYSE:GAP) had its price target decreased by investment analysts at Wells Fargo & Company from $32.00 to $28.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 29.51% from the stock’s previous close.

A number of other brokerages have also commented on GAP. Argus raised GAP to a “hold” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. raised their price target on shares of GAP from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $26.00 price objective on shares of GAP in a report on Friday, October 11th.

GAP Stock Down 1.0 %

Shares of GAP traded down $0.22 during trading hours on Wednesday, hitting $21.62. The company had a trading volume of 472,450 shares, compared to its average volume of 7,005,500. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 1.23 and a beta of 2.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 1.49. The stock has a fifty day moving average price of $21.22. GAP has a 12 month low of $13.09 and a 12 month high of $30.75.

GAP (NYSE:GAP) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.15. GAP had a net margin of 5.05% and a return on equity of 28.89%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.61 billion. On average, equities analysts expect that GAP will post 1.88 EPS for the current fiscal year.

Insider Buying and Selling

In other GAP news, CEO Horacio Barbeito sold 75,385 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 31.00% of the stock is currently owned by company 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.