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

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

Several other research firms have also recently weighed in on GAP. Argus raised shares of GAP to a “hold” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. increased their price target 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. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $26.00 price target on shares of GAP in a research note on Friday, October 11th.

GAP Stock Down 0.8 %

GAP stock opened at $21.67 on Wednesday. The stock has a market capitalization of $8.15 billion, a PE ratio of 10.73, a P/E/G ratio of 1.23 and a beta of 2.35. The stock’s 50-day moving average is $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 52 week low of $13.09 and a 52 week high of $30.75.

GAP (NYSE:GAP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. On average, analysts expect that GAP will post 1.88 earnings per share for the current year.

GAP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th were issued a $0.15 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.77%. GAP’s payout ratio is 29.70%.

Insider Activity

In other news, CEO Horacio Barbeito sold 75,385 shares of the firm’s stock in a transaction 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 SEC, which is available through this hyperlink. Company 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.