GAP (NYSE:GAP) Given New $28.00 Price Target at Wells Fargo & Company

GAP (NYSE:GAP) had its price objective reduced by Wells Fargo & Company from $32.00 to $28.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued reports about the stock. Argus raised shares of GAP to a “hold” rating in a report on Thursday, September 19th. Telsey Advisory Group reissued a “market perform” rating and set a $26.00 price objective on shares of GAP in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of GAP from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, August 30th.

GAP Trading Down 0.8 %

NYSE GAP opened at $21.67 on Wednesday. The business has a fifty day moving average price of $21.18. 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 12-month low of $13.09 and a 12-month high of $30.75. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 1.23 and a beta of 2.35.

GAP (NYSE:GAP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. GAP had a net margin of 5.05% and a return on equity of 28.89%. As a group, sell-side analysts predict that GAP will post 1.88 earnings per share for the current fiscal year.

GAP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Wednesday, October 9th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.60 dividend on an annualized basis and a yield of 2.77%. GAP’s dividend payout ratio is presently 29.70%.

Insiders Place Their Bets

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 value of $1,507,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 31.00% of the company’s stock.

GAP Company Profile

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.