GAP (NYSE:GPS) PT Raised to $32.00 at Evercore ISI

GAP (NYSE:GPS) had its price target upped by investment analysts at Evercore ISI from $24.00 to $32.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the apparel retailer’s stock. Evercore ISI’s price objective indicates a potential upside of 16.79% from the stock’s current price.

A number of other analysts also recently issued reports on GPS. The Goldman Sachs Group lifted their price objective on shares of GAP from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Morgan Stanley raised their price target on GAP from $20.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday. StockNews.com upgraded GAP from a “buy” rating to a “strong-buy” rating in a research note on Monday. TheStreet raised shares of GAP from a “c” rating to a “b-” rating in a research report on Thursday, March 7th. Finally, Barclays lifted their price objective on shares of GAP from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, GAP currently has an average rating of “Moderate Buy” and a consensus price target of $24.48.

GAP Stock Up 21.7 %

Shares of GAP stock traded up $4.88 on Friday, hitting $27.40. The company had a trading volume of 14,329,574 shares, compared to its average volume of 7,550,728. GAP has a twelve month low of $7.79 and a twelve month high of $28.59. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.42 and a quick ratio of 0.78. The stock has a 50-day moving average of $22.84 and a 200-day moving average of $21.07. The firm has a market capitalization of $10.23 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.31 and a beta of 2.34.

GAP (NYSE:GPS) last announced its earnings results on Thursday, May 30th. The apparel retailer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.27. GAP had a net margin of 3.37% and a return on equity of 22.56%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period in the prior year, the business earned $0.01 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. Research analysts predict that GAP will post 1.38 earnings per share for the current year.

Insiders Place Their Bets

In other GAP news, insider Julie Gruber sold 24,180 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $23.00, for a total value of $556,140.00. Following the completion of the sale, the insider now owns 1,384 shares of the company’s stock, valued at approximately $31,832. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other GAP news, insider Julie Gruber sold 24,180 shares of GAP stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $23.00, for a total value of $556,140.00. Following the completion of the transaction, the insider now directly owns 1,384 shares of the company’s stock, valued at approximately $31,832. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Breitbard sold 27,222 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $28.18, for a total value of $767,115.96. Following the sale, the chief executive officer now directly owns 123,985 shares in the company, valued at $3,493,897.30. The disclosure for this sale can be found here. Insiders have sold 266,723 shares of company stock worth $6,886,765 in the last 90 days. Company insiders own 30.81% of the company’s stock.

Hedge Funds Weigh In On GAP

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of GAP during the 4th quarter worth $42,000. Plato Investment Management Ltd raised its stake in GAP by 37.2% during the first quarter. Plato Investment Management Ltd now owns 1,965 shares of the apparel retailer’s stock worth $54,000 after acquiring an additional 533 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of GAP in the 4th quarter valued at approximately $73,000. VitalStone Financial LLC bought a new stake in shares of GAP during the 4th quarter valued at approximately $197,000. Finally, SVB Wealth LLC acquired a new position in GAP during the 1st quarter worth approximately $207,000. 58.81% of the stock is currently owned by institutional investors and hedge funds.

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.