Evercore ISI Raises GAP (NYSE:GAP) Price Target to $33.00

GAP (NYSE:GAP) had its price objective hoisted by investment analysts at Evercore ISI from $32.00 to $33.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 37.61% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their price target on shares of GAP from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays increased their target price on GAP from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America upped their target price on shares of GAP from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday. Morgan Stanley raised their price target on GAP from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their target price on GAP from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.57.

GAP Price Performance

GAP stock traded up $1.94 during trading hours on Friday, hitting $23.98. The company had a trading volume of 9,766,223 shares, compared to its average volume of 7,033,569. The company’s fifty day moving average is $21.32. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 0.51. GAP has a fifty-two week low of $18.34 and a fifty-two week high of $30.75. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 1.20 and a beta of 2.35.

GAP (NYSE:GAP) last posted its earnings results on Thursday, August 29th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Analysts anticipate that GAP will post 1.88 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Horacio Barbeito sold 75,385 shares of the firm’s stock in a transaction that occurred 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 is available 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.