Genesco Sees Strong Trading Volume Following Analyst Upgrade (GCO)
Genesco (NYSE:GCO) saw an uptick in trading volume on Monday after Susquehanna raised their price target on the stock from $85.00 to $100.00, Stock Ratings Network.com reports. 256,859 shares traded hands during mid-day trading, an increase of 104% from the previous session’s volume of 125,818 shares.The stock last traded at $87.48 and had previously closed at $86.05.
GCO has been the subject of a number of other recent research reports. Analysts at Avondale Partners upgraded shares of Genesco from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 20th. Separately, analysts at Jefferies Group initiated coverage on shares of Genesco in a research note on Friday, August 8th. They set a “hold” rating and a $82.00 price target on the stock. Finally, analysts at Buckingham Research initiated coverage on shares of Genesco in a research note on Wednesday, June 25th. They set a “neutral” rating and a $84.00 price target on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $81.17.
The stock’s 50-day moving average is $79.83 and its 200-day moving average is $76.53. The company has a market cap of $2.108 billion and a price-to-earnings ratio of 21.97.
Genesco (NYSE:GCO) last released its earnings data on Friday, May 30th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by $0.10. The company had revenue of $628.80 million for the quarter, compared to the consensus estimate of $618.92 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts expect that Genesco will post $5.46 EPS for the current fiscal year.
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in six segments: Journeys Group, Underground Station Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands.
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