B. Riley Reaffirms “Neutral” Rating for Genesco Inc. (GCO)
Genesco Inc. (NYSE:GCO)‘s stock had its “neutral” rating reiterated by B. Riley in a report released on Thursday. They currently have a $61.00 price objective on the stock. B. Riley’s target price suggests a potential upside of 9.85% from the company’s previous close.
A number of other research analysts also recently weighed in on the company. Piper Jaffray Cos. reiterated a “neutral” rating and set a $62.00 price target on shares of Genesco in a report on Thursday, September 1st. Zacks Investment Research upgraded Genesco from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. TheStreet downgraded Genesco from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Morgan Stanley downgraded Genesco from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $79.00 to $74.00 in a report on Wednesday, July 20th. Finally, Susquehanna initiated coverage on Genesco in a report on Thursday, September 15th. They set a “positive” rating and a $57.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Genesco has a consensus rating of “Hold” and an average target price of $64.38.
Genesco (NYSE:GCO) traded up 0.91% during midday trading on Thursday, hitting $55.53. The stock had a trading volume of 148,363 shares. Genesco has a 12-month low of $47.66 and a 12-month high of $74.21. The stock has a market cap of $1.15 billion, a P/E ratio of 11.65 and a beta of 1.23. The company’s 50-day moving average price is $57.29 and its 200 day moving average price is $64.55.
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Genesco (NYSE:GCO) last issued its quarterly earnings results on Thursday, September 1st. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. Genesco had a return on equity of 10.65% and a net margin of 3.49%. The business had revenue of $625.60 million for the quarter. During the same quarter in the prior year, the firm posted $0.36 EPS. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, equities research analysts predict that Genesco will post $3.89 earnings per share for the current fiscal year.
In related news, insider David Baxter purchased 5,000 shares of Genesco stock in a transaction on Tuesday, September 20th. The stock was bought at an average price of $51.34 per share, with a total value of $256,700.00. Following the completion of the transaction, the insider now directly owns 15,644 shares of the company’s stock, valued at $803,162.96. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David M. Tehle purchased 4,100 shares of Genesco stock in a transaction on Friday, September 9th. The stock was bought at an average cost of $48.66 per share, with a total value of $199,506.00. Following the transaction, the director now directly owns 6,006 shares of the company’s stock, valued at $292,251.96. The disclosure for this purchase can be found here. 3.00% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in GCO. Eagle Asset Management boosted its position in Genesco by 82.7% in the third quarter. Eagle Asset Management now owns 5,562,752 shares of the company’s stock valued at $317,466,000 after buying an additional 2,517,940 shares in the last quarter. Capstone Asset Management Company boosted its position in Genesco by 27.6% in the fourth quarter. Capstone Asset Management Company now owns 11,423 shares of the company’s stock valued at $649,000 after buying an additional 2,470 shares in the last quarter. Dalton Greiner Hartman Maher & Company boosted its position in Genesco by 5.2% in the fourth quarter. Dalton Greiner Hartman Maher & Company now owns 203,766 shares of the company’s stock valued at $11,580,000 after buying an additional 10,042 shares in the last quarter. Alpha Windward boosted its position in Genesco by 11.7% in the fourth quarter. Alpha Windward now owns 8,040 shares of the company’s stock valued at $457,000 after buying an additional 840 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP boosted its position in Genesco by 7.2% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 107,276 shares of the company’s stock valued at $6,097,000 after buying an additional 7,160 shares in the last quarter. 94.05% of the stock is owned by institutional investors.
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. Its Journeys Group segment includes Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy and Underground by Journeys retail stores, catalog and e-commerce operations.
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