Genesco Inc. (NYSE:GCO) Receives Consensus Recommendation of “Hold” from Analysts
Genesco Inc. (NYSE:GCO) has been assigned a consensus rating of “Hold” from the twelve analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $45.17.
A number of equities research analysts have recently weighed in on the company. Morgan Stanley restated an “equal weight” rating and set a $38.00 target price (down previously from $59.00) on shares of Genesco in a research report on Thursday, June 1st. Jefferies Group LLC restated a “hold” rating and set a $48.00 target price on shares of Genesco in a research report on Friday, July 14th. B. Riley upgraded Genesco from a “neutral” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, May 22nd. ValuEngine downgraded Genesco from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Piper Jaffray Companies set a $39.00 target price on Genesco and gave the stock a “buy” rating in a research report on Saturday, June 24th.
Shares of Genesco (NYSE:GCO) traded up 0.88% on Friday, hitting $28.70. The stock had a trading volume of 342,689 shares. Genesco has a 52 week low of $27.75 and a 52 week high of $74.21. The company has a market cap of $562.32 million, a price-to-earnings ratio of 6.45 and a beta of 1.24. The firm has a 50 day moving average price of $32.07 and a 200-day moving average price of $46.89.
Genesco (NYSE:GCO) last released its earnings results on Thursday, May 25th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.22. The firm had revenue of $643.40 million for 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 company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. Analysts anticipate that Genesco will post $3.89 EPS for the current year.
In related news, Director Kevin Patrick Mcdermott acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The stock was acquired at an average cost of $32.32 per share, with a total value of $32,320.00. Following the completion of the purchase, the director now directly owns 8,657 shares in the company, valued at $279,794.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Advisors LLC boosted its position in Genesco by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 34,925 shares of the company’s stock worth $2,169,000 after buying an additional 2,031 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Genesco by 11.4% in the first quarter. Nisa Investment Advisors LLC now owns 12,810 shares of the company’s stock worth $710,000 after buying an additional 1,310 shares during the last quarter. James Investment Research Inc. acquired a new position in Genesco during the first quarter worth about $1,746,000. Shell Asset Management Co. acquired a new position in Genesco during the first quarter worth about $1,073,000. Finally, Russell Investments Group Ltd. boosted its position in Genesco by 130.9% in the first quarter. Russell Investments Group Ltd. now owns 4,212 shares of the company’s stock worth $233,000 after buying an additional 2,388 shares during the last quarter.
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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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