GAP (NYSE:GPS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $37.00 target price on the apparel retailer’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.24% from the stock’s current price.

According to Zacks, “Gap’s shares have outpaced the industry in the last six months, driven by its solid focus on enhancing product quality and responsiveness to changing consumer trends. The company has been taking constant efforts to boost digital and mobile offerings, alongside improving product acceptance. Consequently, the company delivered robust third-quarter fiscal 2017 results. While this marked the company’s third successive earnings beat, it also reflected the fourth consecutive quarter of positive sales surprise. Further, comps improved for the fourth straight quarter owing to gains at Old Navy brand, and growth at its namesake brand. The company’s initiatives and solid year-to-date results encouraged management to raise outlook for fiscal 2017. However, currency woes continue to persist, which caused earnings to fall year over year in the third quarter. Also, the company’s Banana Republic brand continues to play spoilsport.”

GPS has been the subject of a number of other reports. Oppenheimer set a $33.00 target price on GAP and gave the company a “buy” rating in a research report on Monday, October 30th. Canaccord Genuity reaffirmed a “buy” rating on shares of GAP in a research report on Thursday, December 14th. ValuEngine raised GAP from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 30th. Royal Bank of Canada set a $26.00 target price on GAP and gave the company a “hold” rating in a research report on Monday, October 30th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $33.00 target price on shares of GAP in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $28.58.

Shares of GAP (NYSE:GPS) traded up $0.55 during trading on Thursday, reaching $33.26. The company had a trading volume of 2,741,500 shares, compared to its average volume of 4,568,591. GAP has a twelve month low of $21.02 and a twelve month high of $35.24. The company has a market cap of $12,960.00, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.94 and a beta of 0.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 0.77.

GAP (NYSE:GPS) last issued its earnings results on Thursday, November 16th. The apparel retailer reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. GAP had a return on equity of 27.47% and a net margin of 5.57%. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the company posted $0.60 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. sell-side analysts predict that GAP will post 2.1 earnings per share for the current fiscal year.

In other news, major shareholder John J. Fisher sold 850,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $32.32, for a total value of $27,472,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeff Kirwan sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $26.11, for a total value of $26,110.00. Following the completion of the transaction, the chief executive officer now owns 24,268 shares in the company, valued at approximately $633,637.48. The disclosure for this sale can be found here. Insiders sold a total of 1,549,690 shares of company stock worth $48,798,813 in the last 90 days. Company insiders own 27.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acropolis Investment Management LLC boosted its stake in shares of GAP by 115.4% in the 4th quarter. Acropolis Investment Management LLC now owns 4,185 shares of the apparel retailer’s stock worth $143,000 after buying an additional 2,242 shares during the last quarter. Howe & Rusling Inc. purchased a new position in shares of GAP in the 3rd quarter worth approximately $190,000. AE Wealth Management LLC purchased a new position in shares of GAP in the 3rd quarter worth approximately $223,000. Campbell & CO Investment Adviser LLC purchased a new position in GAP in the third quarter valued at approximately $229,000. Finally, LMR Partners LLP purchased a new position in GAP in the third quarter valued at approximately $231,000. Hedge funds and other institutional investors own 54.70% of the company’s stock.

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About GAP

The Gap, Inc (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, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.

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