Zacks Investment Research downgraded shares of Genesco (NYSE:GCO) from a hold rating to a sell rating in a research report released on Monday morning.
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. “
Several other equities analysts also recently commented on the company. Pivotal Research upgraded Genesco from a hold rating to a buy rating and boosted their price objective for the company from $44.00 to $54.00 in a research report on Thursday, August 30th. Macquarie boosted their price objective on Genesco from $28.00 to $32.00 and gave the stock a hold rating in a research note on Monday, September 10th. ValuEngine cut Genesco from a buy rating to a hold rating in a research note on Wednesday, November 21st. Finally, Piper Jaffray Companies set a $41.00 target price on Genesco and gave the company a hold rating in a research note on Friday, November 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Genesco has an average rating of Hold and an average price target of $41.78.
Shares of NYSE:GCO opened at $42.91 on Monday. The firm has a market cap of $843.25 million, a price-to-earnings ratio of 13.67, a P/E/G ratio of 1.82 and a beta of 1.03. Genesco has a 12-month low of $27.20 and a 12-month high of $51.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 0.53.
Genesco (NYSE:GCO) last posted its earnings results on Friday, September 7th. The company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.08. Genesco had a positive return on equity of 7.53% and a negative net margin of 3.77%. The business had revenue of $653.90 million during the quarter, compared to analyst estimates of $641.07 million. During the same quarter last year, the company earned ($0.10) EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts anticipate that Genesco will post 3.2 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GCO. NumerixS Investment Technologies Inc purchased a new stake in shares of Genesco during the 2nd quarter valued at approximately $106,000. Piedmont Investment Advisors LLC acquired a new position in shares of Genesco in the second quarter worth $184,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Genesco in the third quarter worth $222,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Genesco during the 3rd quarter worth $224,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Genesco during the 1st quarter worth $241,000.
Genesco Inc retails and wholesales footwear, apparel, and accessories. The company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, Shi by Journeys, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.
Recommended Story: Intrinsic Value and Stock Selection
Get a free copy of the Zacks research report on Genesco (GCO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Genesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesco and related companies with MarketBeat.com's FREE daily email newsletter.