Genesco (NYSE:GCO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, March 16th. The firm currently has a $44.00 target price on the stock.
According to Zacks, “Genesco Inc., a Nashville-based specialty retailer, sells footwear, headwear and accessories in retail stores in the United States and Canada. The Company sells its products principally under the names Journeys, Journeys Kidz, Shi by Journeys, Johnston & Murphy, Underground Station, Hatworld, Lids, Hat Shack, Hat Zone, Head Quarters and Cap Connection, and on internet websites. The Company also sells footwear at wholesale under its Johnston & Murphy brand and under the licensed Dockers brand. “
GCO has been the subject of a number of other reports. Buckingham Research lifted their price target on Genesco from $23.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, November 20th. ValuEngine downgraded Genesco from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Pivotal Research set a $44.00 target price on Genesco and gave the company a “buy” rating in a report on Wednesday, January 31st. Jefferies Group set a $45.00 price objective on Genesco and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, SunTrust Banks boosted their target price on Genesco to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $41.00.
Shares of NYSE GCO traded up $0.15 during trading on Friday, reaching $44.00. The stock had a trading volume of 454,703 shares, compared to its average volume of 356,422. Genesco has a fifty-two week low of $20.90 and a fifty-two week high of $55.90. The company has a current ratio of 2.72, a quick ratio of 0.60 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $876.17, a PE ratio of 14.06, a PEG ratio of 1.39 and a beta of 1.06.
Genesco (NYSE:GCO) last issued its quarterly earnings data on Thursday, March 15th. The company reported $2.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.09 by $0.06. The business had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $902.00 million. Genesco had a positive return on equity of 7.07% and a negative net margin of 3.85%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.15 earnings per share. equities analysts predict that Genesco will post 3.33 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio lifted its stake 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 buying an additional 618 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Genesco during the 4th quarter worth $216,000. Wolverine Trading LLC lifted its stake in shares of Genesco by 113.1% during the 4th quarter. Wolverine Trading LLC now owns 7,883 shares of the company’s stock worth $256,000 after purchasing an additional 4,183 shares during the period. Pinnacle Financial Partners Inc. purchased a new position in shares of Genesco during the 3rd quarter worth $226,000. Finally, MetLife Investment Advisors LLC purchased a new position in shares of Genesco during the 4th quarter worth $282,000. 99.24% of the stock is currently owned by hedge funds and other institutional investors.
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Genesco Inc retails and wholesales footwear, apparel, and accessories. The company's Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy, and Underground by Journeys retail stores, as well as through e-commerce and catalogs for young men, women, and children.
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