JPMorgan Chase & Co. Forecasts Strong Price Appreciation for GAP (NYSE:GAP) Stock

GAP (NYSE:GAP) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $29.00 to $30.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 29.10% from the stock’s previous close.

Several other research analysts also recently weighed in on GAP. Barclays upped their price target on shares of GAP from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Company upped their price target on shares of GAP from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Guggenheim reiterated a “buy” rating and issued a $35.00 price objective on shares of GAP in a report on Friday, November 22nd. Bank of America increased their price objective on shares of GAP from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Evercore ISI increased their price objective on shares of GAP from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.33.

GAP Stock Performance

GAP opened at $23.24 on Friday. GAP has a fifty-two week low of $18.54 and a fifty-two week high of $30.75. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average price of $23.14. The stock has a market capitalization of $8.76 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 0.94 and a beta of 2.38.

GAP (NYSE:GAP) last released its quarterly earnings results on Thursday, March 6th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.18. GAP had a net margin of 5.40% and a return on equity of 29.03%. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.07 billion. On average, equities research analysts forecast that GAP will post 2.02 earnings per share for the current year.

Insider Activity

In related news, major shareholder John J. Fisher sold 250,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $24.18, for a total transaction of $6,045,000.00. Following the completion of the transaction, the insider now owns 1,000,752 shares of the company’s stock, valued at approximately $24,198,183.36. This trade represents a 19.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Sydney Fisher sold 123,950 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $26.24, for a total transaction of $3,252,448.00. Following the transaction, the director now directly owns 3,696,517 shares of the company’s stock, valued at $96,996,606.08. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 31.00% of the company’s stock.

GAP Company Profile

Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.