Genesco Inc. (GCO) Stock Rating Upgraded by Piper Jaffray Companies
Genesco Inc. (NYSE:GCO) was upgraded by equities research analysts at Piper Jaffray Companies from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, The Fly reports.
A number of other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Genesco from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Monday, February 6th. TheStreet cut shares of Genesco from a “b-” rating to a “c+” rating in a research note on Monday, February 6th. Finally, B. Riley reissued a “neutral” rating and issued a $65.00 price objective on shares of Genesco in a research note on Wednesday, January 11th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $63.71.
Genesco (NYSE:GCO) opened at 51.25 on Thursday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 10.61 and a beta of 1.28. Genesco has a 52-week low of $47.66 and a 52-week high of $74.21. The stock’s 50 day moving average is $55.49 and its 200-day moving average is $59.56.
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Genesco (NYSE:GCO) last issued its quarterly earnings data on Friday, March 10th. The company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.37. Genesco had a net margin of 3.34% and a return on equity of 10.10%. The business earned $883 million during the quarter, compared to analysts’ expectations of $901.35 million. During the same period last year, the company posted $2.11 EPS. The business’s revenue was down 5.3% on a year-over-year basis. Equities research analysts anticipate that Genesco will post $4.46 EPS for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in GCO. 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 worth $649,000 after buying an additional 2,470 shares in the last quarter. 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 worth $317,466,000 after buying an additional 2,517,940 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in Genesco during the fourth quarter worth approximately $548,000. 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 worth $11,580,000 after buying an additional 10,042 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its position in Genesco by 2.1% in the fourth quarter. Eagle Asset Management Inc. now owns 2,839,859 shares of the company’s stock worth $161,389,000 after buying an additional 58,483 shares in the last quarter. 95.46% of the stock is owned by hedge funds and other institutional investors.
Genesco Company Profile
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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