Piper Jaffray Companies Reiterates $40.00 Price Target for Genesco (GCO)

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.

Genesco (NYSE:GCO) last released its earnings results on Friday, December 1st. The company reported $1.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.10). The company had revenue of $716.80 million during the quarter, compared to analysts’ expectations of $706.58 million. Genesco had a negative net margin of 4.24% and a positive return on equity of 6.93%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $1.28 earnings per share. equities analysts anticipate that Genesco will post 3.07 earnings per share for the current fiscal year.

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.

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About Genesco

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.

Analyst Recommendations for Genesco (NYSE:GCO)

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