Bank of America Issues Positive Forecast for GAP (NYSE:GAP) Stock Price

GAP (NYSE:GAP) had its price objective hoisted by equities research analysts at Bank of America from $25.00 to $28.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 26.98% from the company’s current price.

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. increased their price target on GAP from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Telsey Advisory Group reissued a “market perform” rating and set a $26.00 target price on shares of GAP in a report on Monday. Wells Fargo & Company dropped their price target on GAP from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Finally, Argus upgraded shares of GAP to a “hold” rating in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.50.

GAP Trading Up 6.9 %

Shares of NYSE GAP opened at $22.05 on Friday. The business’s 50 day moving average price is $21.32. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 1.20 and a beta of 2.35. GAP has a 1-year low of $18.34 and a 1-year 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 issued its quarterly earnings data on Thursday, August 29th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.15. GAP had a net margin of 5.05% and a return on equity of 28.89%. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Analysts forecast that GAP will post 1.88 EPS for the current year.

Insider Transactions at GAP

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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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.