JPMorgan Chase & Co. Increases GAP (NYSE:GPS) Price Target to $27.00

GAP (NYSE:GPSGet Free Report) had its price target upped by equities researchers at JPMorgan Chase & Co. from $20.00 to $27.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the apparel retailer’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 6.77% from the stock’s current price.

A number of other research firms have also recently commented on GPS. Robert W. Baird upped their price objective on GAP from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday. Wells Fargo & Company upped their price objective on GAP from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Morgan Stanley upped their price objective on GAP from $20.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday. Barclays upped their price target on GAP from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Finally, Evercore ISI upped their price target on GAP from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.51.

Get Our Latest Stock Report on GAP

GAP Trading Up 28.6 %

Shares of NYSE:GPS opened at $28.96 on Friday. The company has a market cap of $10.82 billion, a P/E ratio of 16.09, a PEG ratio of 1.36 and a beta of 2.34. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.42 and a quick ratio of 0.78. GAP has a 1 year low of $7.79 and a 1 year high of $29.08. The stock’s fifty day moving average price is $22.73 and its 200-day moving average price is $21.19.

GAP (NYSE:GPSGet Free Report) last announced its quarterly earnings results on Thursday, May 30th. The apparel retailer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.27. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.29 billion. GAP had a return on equity of 28.33% and a net margin of 4.52%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. Sell-side analysts expect that GAP will post 1.38 earnings per share for the current year.

Insiders Place Their Bets

In other GAP news, insider Julie Gruber sold 24,180 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $23.00, for a total transaction of $556,140.00. Following the transaction, the insider now directly owns 1,384 shares in the company, valued at approximately $31,832. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Sarah Gilligan sold 29,425 shares of GAP stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $22.58, for a total value of $664,416.50. Following the transaction, the insider now directly owns 1,697 shares in the company, valued at approximately $38,318.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Julie Gruber sold 24,180 shares of GAP stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $23.00, for a total value of $556,140.00. Following the completion of the transaction, the insider now owns 1,384 shares in the company, valued at $31,832. The disclosure for this sale can be found here. Insiders have sold 266,723 shares of company stock worth $6,886,765 in the last ninety days. 30.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GPS. Teachers Retirement System of The State of Kentucky increased its holdings in shares of GAP by 90.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 74,080 shares of the apparel retailer’s stock valued at $787,000 after acquiring an additional 35,223 shares during the period. Symmetry Partners LLC purchased a new position in shares of GAP in the 4th quarter valued at $443,000. Polianta Ltd purchased a new position in shares of GAP in the 4th quarter valued at $968,000. SG Americas Securities LLC boosted its position in shares of GAP by 266.4% in the 4th quarter. SG Americas Securities LLC now owns 48,820 shares of the apparel retailer’s stock worth $1,021,000 after purchasing an additional 35,495 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in shares of GAP by 1.2% in the 4th quarter. New York State Teachers Retirement System now owns 263,675 shares of the apparel retailer’s stock worth $5,513,000 after purchasing an additional 3,109 shares in the last quarter. 58.81% of the stock is currently owned by hedge funds and other institutional investors.

About GAP

(Get Free Report)

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.

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Analyst Recommendations for GAP (NYSE:GPS)

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