Bank of America Forecasts Strong Price Appreciation for GAP (NYSE:GAP) Stock

GAP (NYSE:GAP) had its price objective lifted by Bank of America from $25.00 to $28.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

GAP has been the topic of a number of other research reports. Telsey Advisory Group reiterated a “market perform” rating and set a $26.00 price target on shares of GAP in a research note on Monday, November 18th. Argus upgraded shares of GAP to a “hold” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. lifted their price target on shares of GAP from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Finally, Wells Fargo & Company reduced their target price on shares of GAP from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.30.

GAP Trading Up 12.9 %

Shares of GAP stock opened at $24.88 on Friday. GAP has a 1 year low of $18.34 and a 1 year high of $30.75. The business’s fifty day moving average is $21.39. The company has a market capitalization of $9.36 billion, a price-to-earnings 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 posted its quarterly earnings results on Thursday, August 29th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.61 billion. Equities research analysts anticipate that GAP will post 1.88 EPS for the current fiscal year.

GAP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.60 annualized dividend and a yield of 2.41%. GAP’s dividend payout ratio (DPR) is 29.70%.

Insider Buying and Selling

In related news, CEO Horacio Barbeito sold 75,385 shares of the company’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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 31.00% of the stock is owned by corporate insiders.

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.