GAP (NYSE:GAP) Given New $30.00 Price Target at Wells Fargo & Company

GAP (NYSE:GAP) had its price objective raised by Wells Fargo & Company from $28.00 to $30.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently commented on GAP. Morgan Stanley lifted their target price on shares of GAP from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday. Argus raised GAP to a “hold” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. increased 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. Telsey Advisory Group restated a “market perform” rating and issued a $26.00 target price on shares of GAP in a research note on Monday, November 18th. Finally, Bank of America raised their price objective 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 assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, GAP has a consensus rating of “Hold” and an average price target of $28.30.

GAP Stock Up 12.9 %

Shares of NYSE:GAP opened at $24.88 on Friday. The firm’s fifty day moving average price is $21.39. The firm has a market cap of $9.36 billion, a P/E ratio of 11.52, 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 quick ratio of 0.84 and a current ratio of 1.49.

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

GAP Dividend Announcement

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

Insider Activity

In other GAP news, CEO Horacio Barbeito sold 75,385 shares of the stock in a transaction dated 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 legal filing with the SEC, which is available through this link. 31.00% of the stock is currently 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.