Wells Fargo & Company Boosts GAP (NYSE:GPS) Price Target to $20.00

GAP (NYSE:GPS) had its target price hoisted by Wells Fargo & Company from $16.00 to $20.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 46.31% from the stock’s current price.

A number of other brokerages have also recently weighed in on GPS. TheStreet raised GAP from a “d+” rating to a “c-” rating in a research note on Thursday, July 27th. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price objective (up previously from $11.00) on shares of GAP in a research note on Monday. The Goldman Sachs Group raised their price target on shares of GAP from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Friday. Citigroup upped their price objective on GAP from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 18th. Finally, StockNews.com began coverage on GAP in a report on Thursday, October 5th. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.07.

GAP Trading Down 2.8 %

NYSE GPS opened at $13.67 on Friday. GAP has a 12 month low of $7.22 and a 12 month high of $15.49. The stock has a market capitalization of $5.03 billion, a P/E ratio of 47.14, a PEG ratio of 1.62 and a beta of 1.92. The firm’s 50-day moving average is $11.76 and its two-hundred day moving average is $10.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.41 and a quick ratio of 0.67.

GAP (NYSE:GPS) last issued its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.59 EPS for the quarter, topping the consensus estimate of $0.20 by $0.39. GAP had a net margin of 0.71% and a return on equity of 5.06%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period in the prior year, the business posted $0.71 EPS. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that GAP will post 0.72 earnings per share for the current year.

Insider Transactions at GAP

In related news, CFO Katrina O’connell sold 24,509 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $10.36, for a total value of $253,913.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Sarah Gilligan sold 8,712 shares of GAP stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $14.00, for a total value of $121,968.00. Following the sale, the executive vice president now owns 11,741 shares of the company’s stock, valued at $164,374. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Katrina O’connell sold 24,509 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $10.36, for a total transaction of $253,913.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,768 shares of company stock worth $382,237. Insiders own 30.81% of the company’s stock.

Institutional Investors Weigh In On GAP

Institutional investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its holdings in shares of GAP by 317.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,793 shares of the apparel retailer’s stock valued at $30,000 after buying an additional 2,124 shares during the period. Lazard Asset Management LLC lifted its holdings in GAP by 117.8% in the third quarter. Lazard Asset Management LLC now owns 4,613 shares of the apparel retailer’s stock valued at $49,000 after acquiring an additional 2,495 shares during the period. Captrust Financial Advisors boosted its position in shares of 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 purchasing an additional 930 shares in the last quarter. Covestor Ltd grew its stake in shares of 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 purchasing an additional 4,678 shares during the period. Finally, Sciencast Management LP purchased a new position in shares of GAP in the 2nd quarter valued at about $122,000. Hedge funds and other institutional investors own 61.71% of the company’s stock.

GAP Company Profile

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 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.