Robert W. Baird Cuts GAP (NYSE:GAP) Price Target to $29.00

GAP (NYSE:GAP) had its price objective lowered by Robert W. Baird from $31.00 to $29.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

GAP has been the topic of a number of other research reports. Argus upgraded GAP from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Tuesday, January 21st. Wells Fargo & Company raised their price target on GAP from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. UBS Group upgraded GAP from a “sell” rating to a “neutral” rating and raised their price target for the stock from $16.00 to $26.00 in a research note on Friday, January 10th. Evercore ISI lifted their target price on GAP from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, BMO Capital Markets lifted their target price on GAP from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.33.

GAP Stock Performance

GAP opened at $23.24 on Friday. The firm has a 50-day simple moving average of $23.14. The stock has a market cap of $8.76 billion, a P/E ratio of 10.76, a P/E/G ratio of 0.94 and a beta of 2.38. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. GAP has a one year low of $18.54 and a one year high of $30.75.

GAP (NYSE:GAP) last released its quarterly earnings results on Thursday, March 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.18. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.07 billion. GAP had a return on equity of 29.03% and a net margin of 5.40%. As a group, analysts predict that GAP will post 2.02 earnings per share for the current fiscal year.

GAP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 9th will be issued a $0.165 dividend. This is a boost from GAP’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, April 9th. GAP’s dividend payout ratio (DPR) is currently 29.86%.

Insider Activity

In other news, major shareholder John J. Fisher sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $24.18, for a total value of $6,045,000.00. Following the completion of the sale, the insider now directly owns 1,000,752 shares of the company’s stock, valued at $24,198,183.36. This trade represents a 19.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 31.00% of the company’s stock.

GAP Company Profile

Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.