Wells Fargo & Company Issues Positive Forecast for GAP (NYSE:GAP) Stock Price

GAP (NYSE:GAP) had its target price increased by research analysts at Wells Fargo & Company from $28.00 to $30.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 21.65% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Bank of America increased their price target on GAP from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday. Argus raised GAP to a “hold” rating in a report on Thursday, September 19th. Telsey Advisory Group restated a “market perform” rating and set a $26.00 target price on shares of GAP in a report on Monday. Barclays upped their price target on shares of GAP from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $29.00.

GAP Stock Up 11.9 %

NYSE GAP opened at $24.66 on Friday. GAP has a 12-month low of $18.34 and a 12-month high of $30.75. The firm has a 50 day simple moving average of $21.32. The firm has a market capitalization of $9.28 billion, a P/E ratio of 10.91, a PEG ratio of 1.20 and a beta of 2.35. 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 (NYSE:GAP) last issued its quarterly earnings results 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 firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. As a group, sell-side analysts expect that GAP will post 1.88 EPS for the current year.

Insider Buying and Selling at GAP

In other news, CEO Horacio Barbeito sold 75,385 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total transaction of $1,507,700.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate 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.