GAP (NYSE:GAP) Given New $28.00 Price Target at Bank of America

GAP (NYSE:GAP) had its price target increased by Bank of America from $25.00 to $28.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently commented on GAP. Argus upgraded shares of GAP to a “hold” rating in a report on Thursday, September 19th. Wells Fargo & Company cut their price objective on shares of GAP from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $26.00 price objective on shares of GAP in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. raised 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.30.

GAP Price Performance

Shares of GAP opened at $24.88 on Friday. GAP has a 12-month low of $18.34 and a 12-month high of $30.75. The stock has a 50 day simple moving average of $21.39. The firm has a market cap of $9.36 billion, a PE ratio of 12.32, a P/E/G ratio of 1.20 and a beta of 2.35. 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 (NYSE:GAP) last announced its earnings results on Thursday, August 29th. The company reported $0.54 EPS for the quarter, topping 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. As a group, equities research analysts forecast that GAP will post 1.88 EPS for the current fiscal year.

GAP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, January 8th. GAP’s dividend payout ratio is 29.70%.

Insider Activity

In other news, CEO Horacio Barbeito sold 75,385 shares of GAP stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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.