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

GAP (NYSE:GAP) had its target price hoisted by Morgan Stanley from $29.00 to $30.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on GAP. JPMorgan Chase & Co. raised their price target on shares of GAP from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Wells Fargo & Company reduced their target price 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. Bank of America lifted their price objective on GAP from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday. Argus upgraded shares of GAP to a “hold” rating in a research note on Thursday, September 19th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $26.00 target price on shares of GAP in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.30.

GAP Price Performance

Shares of NYSE:GAP opened at $24.87 on Friday. The company has a market cap of $9.36 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 1.26 and a beta of 2.35. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 0.51. GAP has a one year low of $18.34 and a one year high of $30.75. The business has a fifty day moving average of $21.39.

GAP (NYSE:GAP) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.39 by $0.15. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. GAP had a net margin of 5.40% and a return on equity of 30.10%. As a group, equities research analysts expect that GAP will post 1.87 EPS for the current year.

GAP Announces Dividend

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

Insider Buying and Selling at GAP

In other GAP news, CEO Horacio Barbeito sold 75,385 shares of the firm’s stock in a transaction that occurred 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 accessible through this hyperlink. 31.00% of the stock is currently owned by corporate 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.