Wells Fargo & Company Forecasts Strong Price Appreciation for GAP (NYSE:GAP) Stock

GAP (NYSE:GAP) had its price target boosted by analysts at Wells Fargo & Company from $28.00 to $30.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 21.65% from the company’s previous close.

A number of other research analysts also recently commented on GAP. Barclays boosted their price target on GAP from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley upped their price target on shares of GAP from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America increased their price target on shares of GAP from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday. JPMorgan Chase & Co. boosted 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. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $26.00 target price on shares of GAP in a report on Monday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $29.00.

GAP Trading Up 11.9 %

Shares of GAP opened at $24.66 on Friday. 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 has a 12 month low of $18.34 and a 12 month high of $30.75. The stock’s 50 day simple moving average is $21.32. The company has a market capitalization of $9.28 billion, a PE ratio of 10.91, a PEG ratio of 1.20 and a beta of 2.35.

GAP (NYSE:GAP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.15. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. GAP had a return on equity of 28.89% and a net margin of 5.05%. Equities research analysts predict that GAP will post 1.88 earnings per share for the current fiscal year.

Insider Buying and Selling at GAP

In other GAP news, CEO Horacio Barbeito sold 75,385 shares of the company’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.