Wells Fargo & Company Forecasts Strong Price Appreciation for GAP (NYSE:GAP) Stock

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

GAP has been the subject of several other reports. Argus raised GAP to a “hold” rating in a report on Thursday, September 19th. Barclays increased their price objective on GAP from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of GAP from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Morgan Stanley upped their price target on shares of GAP from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $26.00 target price on shares of GAP in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $28.30.

GAP Trading Down 0.1 %

Shares of GAP stock opened at $24.85 on Friday. GAP has a twelve month low of $18.34 and a twelve month high of $30.75. The firm has a market capitalization of $9.35 billion, a PE ratio of 11.50, a P/E/G ratio of 1.35 and a beta of 2.35. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average price of $21.48.

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

GAP Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.41%. GAP’s dividend payout ratio is 27.78%.

Insider Transactions at GAP

In related news, CEO Horacio Barbeito sold 75,385 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which can be accessed through this link. 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.