Wells Fargo & Company Issues Positive Forecast for GAP (NYSE:GAP) Stock Price

GAP (NYSE:GAP) had its price objective increased by Wells Fargo & Company from $28.00 to $30.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on GAP. Telsey Advisory Group reissued a “market perform” rating and set a $26.00 price target on shares of GAP in a research report on Monday, November 18th. JPMorgan Chase & Co. boosted their price target on shares of GAP from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. 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 report on Friday. Argus raised GAP to a “hold” rating in a report on Thursday, September 19th. Finally, Morgan Stanley raised their price target on GAP from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday. One equities 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.30.

GAP Stock Performance

Shares of NYSE:GAP opened at $24.88 on Friday. The business’s fifty day simple moving average is $21.39. The company has a current ratio of 1.49, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.26 and a beta of 2.35. GAP has a 52 week low of $18.34 and a 52 week high of $30.75.

GAP (NYSE:GAP) last issued its earnings results on Thursday, August 29th. The company reported $0.54 EPS 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 analyst estimates of $3.61 billion. GAP had a return on equity of 30.10% and a net margin of 5.40%. Sell-side analysts forecast that GAP will post 1.87 EPS for the current year.

GAP Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Horacio Barbeito sold 75,385 shares of GAP stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total value of $1,507,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.