JPMorgan Chase & Co. Forecasts Strong Price Appreciation for GAP (NYSE:GAP) Stock

GAP (NYSE:GAP) had its price objective increased by equities researchers at JPMorgan Chase & Co. from $26.00 to $28.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 12.59% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Argus upgraded GAP to a “hold” rating in a research report on Thursday, September 19th. Bank of America increased their price target on shares of GAP from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Friday. Barclays boosted their price objective on shares of GAP from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday. Morgan Stanley increased their target price on shares of GAP from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Friday. Finally, Wells Fargo & Company boosted their price target on GAP from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, GAP currently has an average rating of “Hold” and a consensus price target of $28.30.

GAP Stock Performance

GAP stock opened at $24.87 on Friday. The firm has a market cap of $9.36 billion, a PE ratio of 11.51, a PEG ratio of 1.26 and a beta of 2.35. The stock has a fifty day moving average price of $21.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.49 and a quick ratio of 0.84. GAP has a one year low of $18.34 and a one year high of $30.75.

GAP (NYSE:GAP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. GAP had a net margin of 5.40% and a return on equity of 30.10%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.61 billion. Equities analysts forecast that GAP will post 1.87 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Horacio Barbeito sold 75,385 shares of the business’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 this hyperlink. 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.