Wells Fargo & Company Boosts GAP (NYSE:GPS) Price Target to $12.00

GAP (NYSE:GPSGet Rating) had its price objective upped by Wells Fargo & Company from $10.00 to $12.00 in a report released on Friday, The Fly reports. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 12.22% from the stock’s previous close.

GPS has been the topic of several other research reports. StockNews.com lowered GAP from a “hold” rating to a “sell” rating in a research note on Friday, November 4th. Morgan Stanley increased their price target on GAP from $7.50 to $8.00 and gave the company an “underweight” rating in a research report on Friday, August 26th. Citigroup increased their price target on GAP from $7.00 to $8.00 and gave the company a “sell” rating in a research report on Friday, November 11th. Telsey Advisory Group increased their price target on GAP from $10.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday. Finally, The Goldman Sachs Group increased their price target on GAP from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, August 26th. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.09.

GAP Stock Performance

Shares of GAP stock opened at $13.67 on Friday. The business’s fifty day simple moving average is $10.21 and its 200-day simple moving average is $10.05. GAP has a 52 week low of $7.79 and a 52 week high of $24.94. The company has a quick ratio of 0.50, a current ratio of 1.37 and a debt-to-equity ratio of 0.80. The firm has a market cap of $4.97 billion, a PE ratio of 85.44 and a beta of 1.80.

GAP (NYSE:GPSGet Rating) last posted its earnings results on Thursday, November 17th. The apparel retailer reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.70. GAP had a return on equity of 4.81% and a net margin of 0.35%. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the company earned $0.27 EPS. GAP’s revenue was up 2.4% on a year-over-year basis. Equities analysts forecast that GAP will post -0.33 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Mary Beth Laughton sold 11,030 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $11.28, for a total transaction of $124,418.40. Following the transaction, the chief executive officer now owns 31,561 shares in the company, valued at approximately $356,008.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 44.19% of the stock is currently owned by company insiders.

Institutional Trading of GAP

A number of hedge funds have recently added to or reduced their stakes in GPS. Lindbrook Capital LLC lifted its position in GAP by 290.2% during the 2nd quarter. Lindbrook Capital LLC now owns 4,062 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 3,021 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in GAP by 58.5% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,150 shares of the apparel retailer’s stock worth $42,000 after acquiring an additional 1,900 shares during the period. Captrust Financial Advisors lifted its position in GAP by 12.2% during the 2nd quarter. Captrust Financial Advisors now owns 8,561 shares of the apparel retailer’s stock worth $71,000 after acquiring an additional 930 shares during the period. Covestor Ltd lifted its position in GAP by 208.4% during the 1st quarter. Covestor Ltd now owns 6,923 shares of the apparel retailer’s stock worth $97,000 after acquiring an additional 4,678 shares during the period. Finally, Dorsey & Whitney Trust CO LLC lifted its position in GAP by 14.2% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 13,161 shares of the apparel retailer’s stock worth $108,000 after acquiring an additional 1,634 shares during the period. 57.46% of the stock is owned by institutional investors and hedge funds.

GAP Company Profile

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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 denim, tees, fleece, and khakis; eyewear, jewelry, shoes, handbags, and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.

Further Reading

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