Traders Purchase Large Volume of Gap Put Options (GPS)
Shares of Gap (NYSE:GPS) was the target of some unusual options trading activity on Thursday. Traders acquired 20,409 put options on the stock, Analyst Ratings Net reports. This is an increase of approximately 576% compared to the typical volume of 3,020 put options.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Gap in a research note to investors on Wednesday, September 18th. They now have a $44.00 price target on the stock. Separately, analysts at Nomura initiated coverage on shares of Gap in a research note to investors on Monday, September 9th. They set a “neutral” rating and a $42.00 price target on the stock. Finally, analysts at Sterne Agee cut their price target on shares of Gap from $40.00 to $38.00 in a research note to investors on Friday, September 6th. They now have an “underperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the company. Gap presently has an average rating of “Hold” and a consensus price target of $45.78.
Shares of Gap (NYSE:GPS) traded up 0.51% on Thursday, hitting $39.68. The stock had a trading volume of 7,193,608 shares. Gap has a 52 week low of $29.84 and a 52 week high of $46.56. The stock has a 50-day moving average of $40.9 and a 200-day moving average of $41.02. The company has a market cap of $18.550 billion and a price-to-earnings ratio of 14.55.
Gap (NYSE:GPS) last announced its earnings results on Thursday, August 22nd. The company reported $0.64 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.64. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the company posted $0.49 earnings per share. Gap’s revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Gap will post $2.76 earnings per share for the current fiscal year.
The Gap, Inc (NYSE:GPS) is a global specialty apparel company.
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