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

GAP (NYSE:GAP) had its target price increased by analysts at Bank of America from $25.00 to $28.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target suggests a potential upside of 26.98% from the stock’s previous close.

GAP has been the topic of several other research reports. Wells Fargo & Company dropped their price target 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. JPMorgan Chase & Co. lifted their target price on GAP from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Argus upgraded GAP to a “hold” rating in a report on Thursday, September 19th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $26.00 price objective on shares of GAP in a research note on Monday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $27.50.

GAP Stock Up 6.9 %

NYSE GAP opened at $22.05 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 1.49. GAP has a 52 week low of $18.34 and a 52 week high of $30.75. The firm’s 50 day moving average price is $21.32. The company has a market capitalization of $8.30 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.20 and a beta of 2.35.

GAP (NYSE:GAP) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.54 earnings per share 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 firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. On average, equities research analysts anticipate that GAP will post 1.88 earnings per share for the current year.

Insider Activity

In other news, CEO Horacio Barbeito sold 75,385 shares of the stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available through this link. 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.