Genesco Inc. (GCO) PT Set at $39.00 by Piper Jaffray Companies
Genesco Inc. (NYSE:GCO) received a $39.00 price objective from equities researchers at Piper Jaffray Companies in a report issued on Saturday. The firm presently has a “buy” rating on the stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 18.54% from the company’s current price.
GCO has been the topic of several other reports. Susquehanna Bancshares Inc restated a “positive” rating and issued a $43.00 price objective (down from $66.00) on shares of Genesco in a research report on Tuesday, May 30th. ValuEngine cut shares of Genesco from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC set a $62.00 price target on shares of Genesco and gave the company a “hold” rating in a research report on Thursday, April 20th. Zacks Investment Research cut shares of Genesco from a “buy” rating to a “hold” rating in a research report on Tuesday, March 14th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $38.00 price target (down from $59.00) on shares of Genesco in a research report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $50.29.
Genesco (NYSE GCO) traded up 1.70% during trading on Friday, reaching $32.90. 498,739 shares of the company were exchanged. Genesco has a one year low of $31.80 and a one year high of $74.21. The firm’s 50 day moving average price is $42.84 and its 200-day moving average price is $55.19. The stock has a market capitalization of $644.61 million, a price-to-earnings ratio of 7.39 and a beta of 1.17.
Genesco (NYSE:GCO) last posted its quarterly earnings data on Thursday, May 25th. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.22. The company had revenue of $643.40 million during the quarter, compared to the consensus estimate of $644.15 million. Genesco had a return on equity of 8.41% and a net margin of 3.07%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the company posted $0.62 earnings per share. On average, equities research analysts predict that Genesco will post $3.92 earnings per share for the current year.
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In related news, Director Kevin Patrick Mcdermott acquired 1,340 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was purchased at an average price of $37.18 per share, with a total value of $49,821.20. Following the completion of the purchase, the director now owns 5,192 shares in the company, valued at approximately $193,038.56. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its stake in Genesco by 34.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,860 shares of the company’s stock worth $116,000 after buying an additional 475 shares during the period. Quantbot Technologies LP bought a new stake in Genesco during the first quarter worth $105,000. BlackRock Inc. raised its stake in Genesco by 60.2% in the first quarter. BlackRock Inc. now owns 2,184 shares of the company’s stock worth $157,000 after buying an additional 821 shares during the period. Acrospire Investment Management LLC bought a new stake in Genesco during the second quarter worth $142,000. Finally, PNC Financial Services Group Inc. raised its stake in Genesco by 44.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock worth $142,000 after buying an additional 775 shares during the period.
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. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.
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