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

GAP (NYSE:GAP) had its price objective hoisted by Morgan Stanley from $29.00 to $30.00 in a report issued on Friday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on GAP. Argus upgraded GAP to a “hold” rating in a research note on Thursday, September 19th. Wells Fargo & Company reduced their price objective on shares of GAP from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $26.00 price target on shares of GAP in a research report on Monday, November 18th. JPMorgan Chase & Co. increased their price objective on shares of GAP from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Finally, Bank of America upped their target price on shares of GAP from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $28.30.

GAP Stock Performance

GAP stock opened at $24.85 on Friday. GAP has a 52 week low of $18.34 and a 52 week high of $30.75. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.54 and a quick ratio of 0.84. The company 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 stock’s 50-day simple moving average is $21.48.

GAP (NYSE:GAP) last posted its quarterly 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. GAP had a return on equity of 29.03% and a net margin of 5.40%. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Research analysts forecast that GAP will post 1.97 earnings per share for the current year.

GAP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, January 8th. GAP’s dividend payout ratio (DPR) is presently 27.78%.

Insider Buying and Selling

In other news, CEO Horacio Barbeito sold 75,385 shares of the firm’s stock in a transaction on 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 legal filing with the SEC, which is available at the SEC website. 31.00% of the stock is owned by insiders.

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.