Jefferies Group LLC Analysts Give Genesco Inc. (GCO) a $48.00 Price Target
Genesco Inc. (NYSE:GCO) has been assigned a $48.00 price objective by research analysts at Jefferies Group LLC in a research note issued on Saturday. The brokerage currently has a “hold” rating on the stock. Jefferies Group LLC’s price objective would suggest a potential upside of 100.84% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Piper Jaffray Companies set a $39.00 price objective on shares of Genesco and gave the stock a “buy” rating in a research report on Saturday, June 24th. UBS AG raised shares of Genesco from a “neutral” rating to a “positive” rating in a research report on Wednesday, April 26th. B. Riley reaffirmed a “buy” rating and set a $50.00 price objective on shares of Genesco in a research report on Saturday, May 27th. Zacks Investment Research cut shares of Genesco from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 1st. Finally, BidaskClub raised shares of Genesco from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.29.
Genesco (NYSE GCO) opened at 23.90 on Friday. The firm has a market capitalization of $468.27 million, a P/E ratio of 5.37 and a beta of 1.24. The stock’s 50 day moving average price is $31.04 and its 200-day moving average price is $45.66. Genesco has a 12 month low of $23.50 and a 12 month high of $73.98.
Genesco (NYSE:GCO) last released its quarterly earnings data on Thursday, May 25th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.22. The firm had revenue of $643.40 million for the quarter, compared to analysts’ expectations of $644.15 million. Genesco had a return on equity of 8.41% and a net margin of 3.07%. Genesco’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm posted $0.62 earnings per share. Equities analysts forecast that Genesco will post $3.89 earnings per share for the current year.
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In related news, Director Kevin Patrick Mcdermott purchased 1,000 shares of Genesco stock in a transaction that occurred on Thursday, July 6th. The stock was purchased at an average cost of $32.32 per share, with a total value of $32,320.00. Following the completion of the transaction, the director now directly owns 8,657 shares in the company, valued at $279,794.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Genesco by 45,756.3% in the first quarter. BlackRock Inc. now owns 2,482,203 shares of the company’s stock worth $137,638,000 after buying an additional 2,476,790 shares in the last quarter. Eagle Asset Management Inc. raised its position in Genesco by 9.4% in the second quarter. Eagle Asset Management Inc. now owns 2,064,808 shares of the company’s stock worth $69,996,000 after buying an additional 177,335 shares in the last quarter. Vanguard Group Inc. raised its position in Genesco by 0.8% in the first quarter. Vanguard Group Inc. now owns 1,964,020 shares of the company’s stock worth $108,905,000 after buying an additional 15,003 shares in the last quarter. Royce & Associates LP raised its position in Genesco by 1.2% in the first quarter. Royce & Associates LP now owns 659,510 shares of the company’s stock worth $36,570,000 after buying an additional 7,500 shares in the last quarter. Finally, State Street Corp raised its position in Genesco by 12.4% in the second quarter. State Street Corp now owns 648,235 shares of the company’s stock worth $21,977,000 after buying an additional 71,541 shares in the last quarter.
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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