Downgrade Alert for Gap Inc (GPS)
Gap Inc (NYSE:GPS) was downgraded from Buy to Hold at Topeka today. The stock closed yesterday at $19.30 on volume of 30.4 million shares, above average daily volume of 6.0 million.
In the past 52 weeks, shares of Gap Inc have traded between a low of $21.11 and a high of $40.64 and closed yesterday at $19.30, which is -9% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 1.3%.
The Gap, Inc., is an international specialty retailer operating retail and outlet stores. The Company sells casual apparel, accessories and personal care products for men, women, and children. The Gap operates stores in the United States, Canada, the United Kingdom, France, Ireland, and Japan.
Potential upside of 43.0% exists for Gap Inc, based on a current level of $19.30 and analysts' average consensus price target of $27.60. Gap Inc shares should first meet resistance at the 50-day moving average (MA) of $26.88 and find additional resistance at the 200-day MA of $27.98.
SmarTrend recommended that its subscribers protect gains by selling shares of Gap Inc on April 8th, 2016 by issuing a Downtrend alert when the shares were trading at $24.61. Since that call, shares of Gap Inc have fallen 11.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades gap inc