GAP (NYSE:GAP) Given New $28.00 Price Target at Wells Fargo & Company

GAP (NYSE:GAP) had its target price decreased by investment analysts at Wells Fargo & Company from $32.00 to $28.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 29.51% from the company’s current price.

Several other brokerages have also issued reports on GAP. Telsey Advisory Group reiterated a “market perform” rating and issued a $26.00 price target on shares of GAP in a report on Friday, October 11th. Argus raised shares of GAP to a “hold” rating in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of GAP from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, August 30th.

GAP Stock Performance

Shares of GAP traded down $0.22 during mid-day trading on Wednesday, reaching $21.62. 472,450 shares of the company were exchanged, compared to its average volume of 7,005,500. The stock has a 50 day simple moving average of $21.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.49 and a quick ratio of 0.84. The company has a market capitalization of $8.14 billion, a PE ratio of 10.81, a PEG ratio of 1.23 and a beta of 2.35. GAP has a 52 week low of $13.09 and a 52 week high of $30.75.

GAP (NYSE:GAP) last announced its 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 business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.61 billion. On average, analysts predict that GAP will post 1.88 EPS for the current year.

Insider Transactions at GAP

In other news, CEO Horacio Barbeito sold 75,385 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total transaction of $1,507,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.