Wells Fargo & Company Increases GAP (NYSE:GAP) Price Target to $30.00

GAP (NYSE:GAP) had its price target increased by Wells Fargo & Company from $28.00 to $30.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also weighed in on GAP. Bank of America increased their target price on GAP from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday. Argus raised GAP to a “hold” rating in a research note on Thursday, September 19th. Telsey Advisory Group reiterated a “market perform” rating and issued a $26.00 target price on shares of GAP in a research report on Monday, November 18th. Barclays raised their target price on shares of GAP from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday. Finally, 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 research note 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 company’s stock. Based on data from MarketBeat.com, GAP has an average rating of “Hold” and a consensus price target of $28.30.

GAP Trading Up 12.8 %

NYSE:GAP opened at $24.87 on Friday. GAP has a twelve month low of $18.34 and a twelve month high of $30.75. The firm 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 debt-to-equity ratio of 0.51, a current ratio of 1.49 and a quick ratio of 0.84. The company’s fifty day simple moving average is $21.39.

GAP (NYSE:GAP) last released 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. GAP had a return on equity of 30.10% and a net margin of 5.40%. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.61 billion. On average, analysts predict that GAP will post 1.87 earnings per share for the current year.

GAP Announces Dividend

The business 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 dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Wednesday, January 8th. GAP’s dividend payout ratio is 27.78%.

Insiders Place Their Bets

In related 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 value of $1,507,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.