The Gap, Inc. (GPS - Free Report) was a big mover last session, as the company saw its shares rise more than 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $22.07 to $24.58 in the past one-month time frame.
The move came after the company announced a long-term strategy, which mainly focuses on the growth brands, enhancement of the online and digital channels, improved productivity and increasing its presence.
The company has seen eight negative estimate revisions in the past one month, while its Zacks Consensus Estimate for the current quarter has also moved lower over the over the same time period, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Gap currently has a Zacks Rank #2 (Buy), while its Earnings ESP is negative.
Another stock worth considering in the Retail - Apparel and Shoes industry is The Children's Place, Inc. (PLCE - Free Report) , which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is GPS going up? Or down? Predict to see what others think: Up or Down
One Simple Trading Idea
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
This proven stock-picking system is grounded on a single big idea that can be fortune shaping and life changing. You can apply it to your portfolio starting today.
Learn more >>