GAP (NYSE:GAP) Price Target Raised to $32.00

GAP (NYSE:GAP) had its price objective boosted by Barclays from $31.00 to $32.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

GAP has been the subject of a number of other research reports. Argus raised shares of GAP to a “hold” rating in a report on Thursday, September 19th. Wells Fargo & Company cut their price objective on shares of GAP from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Telsey Advisory Group reissued a “market perform” rating and issued a $26.00 price objective on shares of GAP in a report on Monday, November 18th. JPMorgan Chase & Co. raised 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. Finally, Morgan Stanley increased their price objective on shares of GAP from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Friday. One 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’s stock. According to data from MarketBeat, GAP has an average rating of “Hold” and an average price target of $28.30.

GAP Price Performance

Shares of GAP stock opened at $24.87 on Friday. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.26 and a beta of 2.35. GAP has a 12 month low of $18.34 and a 12 month high of $30.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.49 and a quick ratio of 0.84. The business has a fifty day moving average price of $21.39.

GAP (NYSE:GAP) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.15. The firm 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 30.10%. On average, sell-side analysts anticipate that GAP will post 1.87 EPS for the current year.

GAP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be issued a $0.15 dividend. 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 27.78%.

Insider Transactions at GAP

In other GAP 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 available through this hyperlink. Company insiders own 31.00% of the company’s stock.

About GAP

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.