Genesco Inc. (NYSE:GCO) Receives Consensus Rating of “Hold” from Analysts
Genesco Inc. (NYSE:GCO) has earned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $62.33.
A number of research firms have issued reports on GCO. B. Riley reissued a “neutral” rating and set a $56.00 price target on shares of Genesco in a research report on Sunday, September 4th. Zacks Investment Research downgraded Genesco from a “hold” rating to a “sell” rating in a research report on Tuesday, August 2nd. Morgan Stanley downgraded Genesco from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $79.00 to $74.00 in a research report on Wednesday, July 20th. Piper Jaffray Cos. reissued a “hold” rating and set a $62.00 price target on shares of Genesco in a research report on Wednesday, June 15th. Finally, TheStreet downgraded Genesco from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th.
Shares of Genesco (NYSE:GCO) opened at 54.46 on Tuesday. Genesco has a 12 month low of $47.66 and a 12 month high of $74.21. The stock’s 50 day moving average price is $59.63 and its 200 day moving average price is $65.05. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 11.42 and a beta of 1.10.
Genesco (NYSE:GCO) last posted its quarterly earnings results on Thursday, September 1st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.07. Genesco had a return on equity of 10.65% and a net margin of 3.49%. The firm earned $625.60 million during the quarter. During the same period last year, the firm posted $0.36 EPS. Genesco’s revenue was down 4.6% on a year-over-year basis. Equities research analysts predict that Genesco will post $3.89 earnings per share for the current fiscal year.
In other Genesco news, Director David M. Tehle purchased 4,100 shares of Genesco stock in a transaction that occurred on Friday, September 9th. The stock was purchased at an average price of $48.66 per share, with a total value of $199,506.00. Following the completion of the acquisition, the director now owns 6,006 shares of the company’s stock, valued at approximately $292,251.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Patrick Mcdermott purchased 1,000 shares of Genesco stock in a transaction that occurred on Tuesday, September 20th. The stock was acquired at an average cost of $51.39 per share, with a total value of $51,390.00. Following the acquisition, the director now directly owns 2,906 shares of the company’s stock, valued at approximately $149,339.34. The disclosure for this purchase can be found here. 3.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its position in shares of Genesco by 69.1% in the second quarter. BNP Paribas Arbitrage SA now owns 10,002 shares of the company’s stock worth $643,000 after buying an additional 4,087 shares in the last quarter. Aperio Group LLC acquired a new position in shares of Genesco during the first quarter worth approximately $323,000. Goldman Sachs Group Inc. increased its position in shares of Genesco by 36.6% in the first quarter. Goldman Sachs Group Inc. now owns 62,762 shares of the company’s stock worth $4,534,000 after buying an additional 16,808 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of Genesco during the first quarter worth approximately $388,000. Finally, William Blair Investment Management LLC increased its position in shares of Genesco by 28.5% in the second quarter. William Blair Investment Management LLC now owns 239,768 shares of the company’s stock worth $15,419,000 after buying an additional 53,181 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.
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. Its Journeys Group segment includes Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy and Underground by Journeys retail stores, catalog and e-commerce operations.
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