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

GAP (NYSE:GAP) had its price target hoisted by JPMorgan Chase & Co. from $26.00 to $28.00 in a research report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities research analysts have also recently issued reports on GAP. Telsey Advisory Group reiterated a “market perform” rating and set a $26.00 price objective on shares of GAP in a research report on Monday, November 18th. Morgan Stanley lifted their price objective on shares of GAP from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday. Bank of America boosted their target price on shares of GAP from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday. Argus raised shares of GAP to a “hold” rating in a research note on Thursday, September 19th. Finally, Barclays lifted their price objective on GAP from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, GAP currently has an average rating of “Hold” and an average price target of $28.30.

GAP Trading Down 0.1 %

GAP opened at $24.85 on Friday. GAP has a 12-month low of $18.34 and a 12-month high of $30.75. The stock has a market capitalization of $9.35 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 1.35 and a beta of 2.35. The business has a 50 day simple moving average of $21.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.54.

GAP (NYSE:GAP) last released its earnings results on Thursday, August 29th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.15. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.61 billion. GAP had a net margin of 5.40% and a return on equity of 29.03%. As a group, analysts predict that GAP will post 1.97 EPS for the current fiscal year.

GAP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.60 dividend on an annualized basis and a yield of 2.41%. GAP’s dividend payout ratio is presently 27.78%.

Insiders Place Their Bets

In other news, CEO Horacio Barbeito sold 75,385 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $1,507,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through 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.