Gap (The) (GPS) : Traders are bullish on Gap (The) (GPS) as it has outperformed the S&P 500 by a wide margin of 10.06% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.64%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 7.6% in the last 1 week, and is up 10.48% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The Gap, Inc. is up 50.94% in the last 3-month period. Year-to-Date the stock performance stands at 11.97%. The stock has recorded a 20-day Moving Average of 6.93% and the 50-Day Moving Average is 17.76%.
Gap (The) (NYSE:GPS): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $25.90 and $25.70 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $26.94. The buying momentum continued till the end and the stock did not give up its gains. It closed at $26.89, notching a gain of 3.90% for the day. The total traded volume was 17,698,270 . The stock had closed at $25.88 on the previous day.
Also, Citigroup maintains its rating on Gap (The) (NYSE:GPS). The global brokerage major raises the current price target from $24 per share to $27 per share. Analysts at the Citigroup have a current rating of Neutral on the shares. The rating by the firm was issued on August 19, 2016.
The Gap, Inc. is an apparel retail company. The Company offers apparel, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Piperlime, Athleta and Intermix brands. In addition to operating in the specialty, outlet, online and franchise channels, Gap Inc. is an apparel retailer in using omni-channel capabilities for digital world and physical stores. Its omni-channel services include order-in-store, reserve-in-store, find-in-store and ship-from-store that are tailored across its portfolio of brands. Gap includes GapKids, babyGap, GapMaternity, GapBody and GapFit collections. It also offers handbags, shoes, jewelry, eyewear and personal care products, among others. It has Company-operated stores in the United States, Canada, the United Kingdom, France, Ireland, Japan, Italy, China and Hong Kong. It operates Gap, Banana Republic and Old Navy stores throughout Asia, Australia, Europe, Latin America, the Middle East and Africa.