Genesco Inc. (GCO) Given Average Recommendation of “Buy” by Brokerages
Shares of Genesco Inc. (NYSE:GCO) have earned a consensus recommendation of “Buy” from the eleven analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $45.17.
Several brokerages recently weighed in on GCO. Jefferies Group LLC set a $62.00 price objective on Genesco and gave the stock a “hold” rating in a research report on Thursday, April 20th. Susquehanna Bancshares Inc upgraded Genesco from a “neutral” rating to a “positive” rating and set a $66.00 price objective for the company in a research report on Wednesday, April 26th. UBS Group AG upgraded Genesco from a “neutral” rating to a “positive” rating in a research report on Wednesday, April 26th. Piper Jaffray Companies upgraded Genesco from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $63.00 to $62.00 in a research report on Thursday, April 20th. Finally, Zacks Investment Research upgraded Genesco from a “sell” rating to a “hold” rating in a research report on Thursday, May 18th.
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In other news, Director Kevin Patrick Mcdermott purchased 1,000 shares of the stock in a transaction dated Thursday, July 6th. The stock was acquired at an average cost of $32.32 per share, for a total transaction of $32,320.00. Following the completion of the transaction, the director now directly owns 8,657 shares in the company, valued at approximately $279,794.24. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in GCO. James Investment Research Inc. boosted its stake in shares of Genesco by 5.6% in the second quarter. James Investment Research Inc. now owns 33,243 shares of the company’s stock valued at $1,127,000 after buying an additional 1,755 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Genesco by 77.8% in the second quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock valued at $131,000 after buying an additional 1,703 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its stake in shares of Genesco by 8.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 8,110 shares of the company’s stock valued at $275,000 after buying an additional 615 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Genesco by 404.7% in the second quarter. Bank of Montreal Can now owns 159,899 shares of the company’s stock valued at $5,420,000 after buying an additional 128,220 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its stake in shares of Genesco by 1.7% in the second quarter. Capstone Asset Management Co. now owns 8,180 shares of the company’s stock valued at $277,000 after buying an additional 140 shares during the last quarter.
Shares of Genesco (NYSE:GCO) traded down 2.45% during trading on Tuesday, hitting $31.90. The stock had a trading volume of 225,304 shares. The firm has a market cap of $625.02 million, a price-to-earnings ratio of 7.17 and a beta of 1.26. The firm’s 50-day moving average is $34.05 and its 200 day moving average is $50.46. Genesco has a 52-week low of $30.65 and a 52-week high of $74.21.
Genesco (NYSE:GCO) last posted its quarterly earnings results on Thursday, May 25th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.28 by $0.22. Genesco had a net margin of 3.07% and a return on equity of 8.41%. The company had revenue of $643.40 million during the quarter, compared to analyst estimates of $644.15 million. During the same period in the prior year, the business posted $0.62 EPS. Genesco’s revenue for the quarter was down .8% compared to the same quarter last year. On average, analysts expect that Genesco will post $3.89 EPS for the current year.
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. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.
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