TheStreet Lowers Genesco Inc. (GCO) to Hold
A number of other analysts have also recently issued reports on the stock. Susquehanna began coverage on shares of Genesco in a research note on Thursday. They set a positive rating and a $57.00 target price for the company. B. Riley restated a neutral rating and set a $56.00 target price on shares of Genesco in a research note on Sunday, September 4th. Zacks Investment Research cut shares of Genesco from a hold rating to a sell rating in a research note on Friday, September 2nd. Robert W. Baird cut shares of Genesco from an outperform rating to a neutral rating and cut their target price for the stock from $80.00 to $53.00 in a research note on Friday, September 2nd. Finally, Piper Jaffray Cos. restated a neutral rating and set a $62.00 target price on shares of Genesco in a research note on Thursday, September 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Genesco presently has an average rating of Hold and a consensus target price of $63.75.
Genesco (NYSE:GCO) opened at 50.36 on Wednesday. The firm has a 50-day moving average of $65.61 and a 200-day moving average of $66.35. Genesco has a 52-week low of $47.66 and a 52-week high of $74.21. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 10.56 and a beta of 1.10.
Genesco (NYSE:GCO) last posted its earnings results on Thursday, September 1st. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.07. The company earned $625.60 million during the quarter. Genesco had a net margin of 3.49% and a return on equity of 10.65%. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 EPS. On average, equities research analysts forecast that Genesco will post $3.89 EPS for the current fiscal year.
In other news, Director David M. Tehle bought 4,100 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were purchased at an average cost of $48.66 per share, with a total value of $199,506.00. Following the acquisition, the director now directly owns 6,006 shares in the company, valued at $292,251.96. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in GCO. Norges Bank purchased a new position in Genesco during the fourth quarter valued at approximately $26,362,000. Aperio Group LLC purchased a new position in Genesco during the first quarter valued at approximately $323,000. Franklin Resources Inc. raised its position in Genesco by 0.4% in the first quarter. Franklin Resources Inc. now owns 647,858 shares of the company’s stock valued at $46,808,000 after buying an additional 2,500 shares in the last quarter. BlackRock Inc. raised its position in Genesco by 60.2% in the first quarter. BlackRock Inc. now owns 2,184 shares of the company’s stock valued at $157,000 after buying an additional 821 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Genesco by 32.1% in the first quarter. BlackRock Group LTD now owns 36,908 shares of the company’s stock valued at $2,666,000 after buying an additional 8,961 shares during the period. 93.55% of the stock is currently 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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