GAP (NYSE:GPS) Given New $24.00 Price Target at Wells Fargo & Co

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GAP (NYSE:GPS) had its price target increased by Wells Fargo & Co from $18.00 to $24.00 in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. Wells Fargo & Co currently has a market perform rating on the apparel retailer’s stock.

Other research analysts also recently issued reports about the company. B. Riley set a $21.00 target price on GAP and gave the company a hold rating in a research note on Friday, August 23rd. Bank of America set a $14.00 target price on GAP and gave the company a sell rating in a research note on Friday, August 23rd. Nomura decreased their price target on GAP from $22.00 to $32.00 and set a neutral rating on the stock in a research note on Friday, May 31st. Guggenheim restated a hold rating on shares of GAP in a research note on Thursday. Finally, Royal Bank of Canada set a $22.00 price target on GAP and gave the company a hold rating in a research note on Friday, May 31st. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $23.83.

Shares of GPS stock opened at $19.24 on Friday. The business’s 50 day moving average is $17.34 and its two-hundred day moving average is $21.29. GAP has a twelve month low of $15.11 and a twelve month high of $31.39. The company has a market capitalization of $7.21 billion, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 1.03 and a beta of 0.71. The company has a current ratio of 1.46, a quick ratio of 0.72 and a debt-to-equity ratio of 1.90.

GAP (NYSE:GPS) last announced its earnings results on Thursday, August 22nd. The apparel retailer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.11. GAP had a return on equity of 24.53% and a net margin of 5.71%. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the business posted $0.76 EPS. The company’s revenue was down 2.0% on a year-over-year basis. As a group, equities analysts predict that GAP will post 2.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th will be issued a $0.243 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.05%. This is a boost from GAP’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, October 8th. GAP’s payout ratio is 37.45%.

In other news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $18.00, for a total value of $291,294.00. Following the completion of the transaction, the chief executive officer now directly owns 32,500 shares of the company’s stock, valued at $585,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 37.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bremer Bank National Association acquired a new position in shares of GAP in the first quarter worth $29,000. Atlas Capital Advisors LLC acquired a new position in shares of GAP in the second quarter worth $52,000. ETF Managers Group LLC acquired a new position in shares of GAP in the second quarter worth $128,000. Rational Advisors LLC raised its holdings in shares of GAP by 41,760.0% in the first quarter. Rational Advisors LLC now owns 8,372 shares of the apparel retailer’s stock worth $219,000 after acquiring an additional 8,352 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of GAP in the second quarter worth $158,000. 59.90% of the stock is owned by institutional investors.

About GAP

The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.

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Analyst Recommendations for GAP (NYSE:GPS)

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