Genesco Inc. (NYSE:GCO) Receives $42.50 Consensus Target Price from Analysts

Genesco Inc. (NYSE:GCO) has received a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $42.50.

Several analysts recently weighed in on the company. ValuEngine downgraded Vereit from a “buy” rating to a “hold” rating in a report on Friday. Pivotal Research restated a “hold” rating and issued a $45.00 price objective on shares of Genesco in a report on Monday, June 3rd. Zacks Investment Research upgraded Investar from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Tuesday, June 4th. Finally, TheStreet downgraded Weis Markets from a “b-” rating to a “c+” rating in a report on Wednesday, June 5th.

Shares of GCO traded down $0.13 during trading hours on Friday, reaching $39.98. 246,572 shares of the company traded hands, compared to its average volume of 272,079. The stock has a market capitalization of $661.03 million, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 2.18 and a beta of 0.54. Genesco has a 12-month low of $37.51 and a 12-month high of $51.85. The company has a current ratio of 1.65, a quick ratio of 0.64 and a debt-to-equity ratio of 1.13. The stock has a fifty day moving average of $43.33.

Genesco (NYSE:GCO) last released its quarterly earnings data on Friday, May 31st. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.29. The firm had revenue of $495.70 million during the quarter, compared to the consensus estimate of $479.36 million. Genesco had a positive return on equity of 8.85% and a negative net margin of 1.70%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. On average, equities analysts expect that Genesco will post 3.66 earnings per share for the current year.

Genesco announced that its board has authorized a stock repurchase plan on Friday, May 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In related news, Director Thurgood Marshall, Jr. sold 1,690 shares of Genesco stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $44.57, for a total value of $75,323.30. Following the completion of the sale, the director now directly owns 9,724 shares in the company, valued at $433,398.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Genesco by 24.1% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 84,636 shares of the company’s stock worth $3,749,000 after purchasing an additional 16,460 shares in the last quarter. Alpha Windward LLC bought a new position in Genesco in the first quarter worth about $470,000. Hancock Whitney Corp bought a new position in Genesco in the fourth quarter worth about $979,000. Northern Trust Corp raised its holdings in Genesco by 0.6% in the fourth quarter. Northern Trust Corp now owns 572,631 shares of the company’s stock worth $25,368,000 after purchasing an additional 3,444 shares in the last quarter. Finally, Brandywine Global Investment Management LLC raised its holdings in Genesco by 54.2% in the fourth quarter. Brandywine Global Investment Management LLC now owns 69,385 shares of the company’s stock worth $3,074,000 after purchasing an additional 24,399 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

About Genesco

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

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