Genesco (NYSE:GCO) has been given a $40.00 price objective by stock analysts at Piper Jaffray Companies in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 4.17% from the stock’s previous close.
Other research analysts have also issued reports about the company. SunTrust Banks lifted their target price on Genesco to $39.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Pivotal Research started coverage on Genesco in a report on Thursday, January 25th. They set a “buy” rating and a $44.00 price target for the company. Jefferies Group set a $42.00 price target on Genesco and gave the stock a “buy” rating in a report on Thursday, January 18th. TheStreet downgraded Genesco from a “c-” rating to a “d” rating in a report on Friday, December 1st. Finally, Zacks Investment Research raised Genesco from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $37.90.
Genesco (NYSE GCO) traded up $4.00 during trading hours on Wednesday, reaching $38.40. The company had a trading volume of 447,637 shares, compared to its average volume of 437,157. The stock has a market capitalization of $692.98, a price-to-earnings ratio of -6.03, a PEG ratio of 1.13 and a beta of 1.32. Genesco has a 52-week low of $20.90 and a 52-week high of $63.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.47 and a current ratio of 2.31.
Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its position in Genesco by 16.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock valued at $145,000 after acquiring an additional 618 shares during the period. Teacher Retirement System of Texas acquired a new position in Genesco in the 4th quarter valued at about $216,000. Pinnacle Financial Partners Inc. acquired a new position in Genesco in the 3rd quarter valued at about $226,000. Crossmark Global Holdings Inc. acquired a new position in Genesco in the 3rd quarter valued at about $240,000. Finally, Municipal Employees Retirement System of Michigan increased its position in Genesco by 32.6% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,780 shares of the company’s stock valued at $287,000 after acquiring an additional 2,650 shares during the period. Hedge funds and other institutional investors own 98.38% of the company’s stock.
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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