Wells Fargo & Company Lowers GAP (NYSE:GAP) Price Target to $28.00

GAP (NYSE:GAP) had its price target cut by Wells Fargo & Company from $32.00 to $28.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 31.64% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Argus upgraded GAP to a “hold” rating in a report on Thursday, September 19th. Telsey Advisory Group reiterated a “market perform” rating and set a $26.00 target price on shares of GAP in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of GAP from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th.

GAP Stock Down 2.1 %

NYSE:GAP traded down $0.45 during trading hours on Wednesday, hitting $21.27. 331,117 shares of the stock were exchanged, compared to its average volume of 7,017,674. The company’s 50 day moving average is $21.21. GAP has a twelve month low of $13.09 and a twelve month high of $30.75. 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 firm has a market capitalization of $8.00 billion, a P/E ratio of 10.53, a P/E/G ratio of 1.18 and a beta of 2.35.

GAP (NYSE:GAP) last issued its earnings results on Thursday, August 29th. The company reported $0.54 EPS for the quarter, beating 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 company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. On average, equities research analysts expect that GAP will post 1.88 EPS for the current year.

Insider Activity at GAP

In related news, CEO Horacio Barbeito sold 75,385 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.00, for a total value of $1,507,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.00% of the stock is currently owned by company insiders.

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 adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.