GAP (NYSE:GAP) Price Target Raised to $30.00

GAP (NYSE:GAP) had its target price upped by JPMorgan Chase & Co. from $29.00 to $30.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the stock. 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 report on Friday, November 22nd. UBS Group upgraded shares of GAP from a “sell” rating to a “neutral” rating and upped their price target for the stock from $16.00 to $26.00 in a report on Friday, January 10th. Evercore ISI upped their price target on shares of GAP from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Guggenheim reiterated a “buy” rating and set a $35.00 price target on shares of GAP in a report on Friday, November 22nd. Finally, BMO Capital Markets increased their price objective on GAP from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.33.

GAP Price Performance

NYSE GAP opened at $23.24 on Friday. The business’s fifty day simple moving average is $23.14. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.47. GAP has a fifty-two week low of $18.54 and a fifty-two week high of $30.75. The company has a market capitalization of $8.76 billion, a PE ratio of 10.76, a PEG ratio of 0.94 and a beta of 2.38.

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

GAP Increases Dividend

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

Insiders Place Their Bets

In other GAP news, major shareholder John J. Fisher sold 250,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $24.18, for a total transaction of $6,045,000.00. Following the completion of the sale, the insider now directly owns 1,000,752 shares in the company, valued at approximately $24,198,183.36. This trade represents a 19.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.