Pivotal Research reaffirmed their buy rating on shares of Genesco (NYSE:GCO) in a research report sent to investors on Monday. The brokerage currently has a $52.00 price objective on the stock.

“We believe that all three of these boxes either have been or are being checked, and, as such, we’re modeling 3Q and FY19 above consensus and the midpoint of GCO’s guidance. However, we’re also a little concerned that Vans has slowed since GCO last reported, which is why we’re not modeling FY19 at the high end of the company’s range.”,” Pivotal Research’s analyst wrote.

Several other equities research analysts have also weighed in on GCO. ValuEngine raised shares of Genesco from a hold rating to a buy rating in a report on Tuesday, November 27th. Piper Jaffray Companies set a $41.00 price objective on shares of Genesco and gave the stock a hold rating in a report on Friday, November 30th. Zacks Investment Research lowered shares of Genesco from a buy rating to a hold rating in a report on Wednesday, November 7th. Finally, Macquarie increased their price objective on shares of Genesco from $28.00 to $32.00 and gave the stock a hold rating in a report on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $41.78.

GCO opened at $42.91 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.53 and a current ratio of 2.43. Genesco has a twelve month low of $27.20 and a twelve month high of $51.85. The stock has a market capitalization of $843.25 million, a PE ratio of 13.67, a PEG ratio of 1.82 and a beta of 1.03.

Genesco (NYSE:GCO) last posted its earnings results on Friday, September 7th. The company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. Genesco had a negative net margin of 3.77% and a positive return on equity of 7.53%. The business had revenue of $653.90 million for the quarter, compared to analyst estimates of $641.07 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts expect that Genesco will post 3.2 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Genesco by 4.2% during the 3rd quarter. BlackRock Inc. now owns 2,840,455 shares of the company’s stock worth $133,785,000 after acquiring an additional 113,448 shares during the last quarter. Vanguard Group Inc. grew its holdings in Genesco by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,920,730 shares of the company’s stock worth $90,466,000 after acquiring an additional 41,294 shares during the last quarter. Carillon Tower Advisers Inc. grew its holdings in Genesco by 1.3% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,321,749 shares of the company’s stock worth $52,473,000 after acquiring an additional 17,469 shares during the last quarter. FMR LLC lifted its position in Genesco by 9.3% during the 3rd quarter. FMR LLC now owns 1,122,800 shares of the company’s stock valued at $52,884,000 after purchasing an additional 95,644 shares during the period. Finally, Northern Trust Corp lifted its position in Genesco by 0.6% during the 2nd quarter. Northern Trust Corp now owns 588,711 shares of the company’s stock valued at $23,371,000 after purchasing an additional 3,329 shares during the period.

Genesco Company Profile

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.

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Analyst Recommendations for Genesco (NYSE:GCO)

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