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

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

A number of other brokerages have also recently issued reports on GAP. Barclays increased their price objective on shares of GAP from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday. Wells Fargo & Company boosted their price objective on GAP from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday. Telsey Advisory Group reiterated a “market perform” rating and set a $26.00 target price on shares of GAP in a research report on Monday. Bank of America boosted their price target on GAP from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Morgan Stanley increased their price objective on shares of GAP from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.57.

GAP Stock Up 8.8 %

NYSE:GAP traded up $1.94 during mid-day trading on Friday, hitting $23.98. 9,766,223 shares of the company traded hands, compared to its average volume of 7,033,569. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 1.49. The company has a fifty day moving average of $21.32. The company has a market cap of $9.02 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.20 and a beta of 2.35. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.61 billion. GAP had a return on equity of 28.89% and a net margin of 5.05%. Equities analysts predict that GAP will post 1.88 EPS for the current year.

Insider Activity

In other GAP news, CEO Horacio Barbeito sold 75,385 shares of GAP stock in a transaction dated Thursday, September 12th. The stock was 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 available at the SEC website. 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.