JPMorgan Chase & Co. Issues Positive Forecast for GAP (NYSE:GAP) Stock Price

GAP (NYSE:GAP) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $26.00 to $28.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 16.76% from the stock’s current price.

A number of other analysts have also commented on GAP. Wells Fargo & Company boosted their price target on shares of GAP from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley boosted their target price on GAP from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday. Argus upgraded shares of GAP to a “hold” rating in a research report on Thursday, September 19th. Telsey Advisory Group reissued a “market perform” rating and issued a $26.00 target price on shares of GAP in a research report on Monday. Finally, Barclays raised 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. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.57.

GAP Trading Up 8.8 %

GAP traded up $1.94 on Friday, reaching $23.98. The stock had a trading volume of 9,766,223 shares, compared to its average volume of 7,033,569. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.49 and a quick ratio of 0.84. The stock has a market cap of $9.02 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.20 and a beta of 2.35. GAP has a fifty-two week low of $18.34 and a fifty-two week high of $30.75. The firm’s 50-day moving average price is $21.32.

GAP (NYSE:GAP) last announced 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. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. GAP had a net margin of 5.05% and a return on equity of 28.89%. Sell-side analysts anticipate that GAP will post 1.88 EPS for the current fiscal year.

Insider Activity

In other GAP news, CEO Horacio Barbeito sold 75,385 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $1,507,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.