Genesco Inc. (GCO) Receives Average Recommendation of “Hold” from Brokerages
Shares of Genesco Inc. (NYSE:GCO) have been assigned an average rating of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $45.17.
A number of research firms have issued reports on GCO. Zacks Investment Research upgraded Genesco from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub upgraded Genesco from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Jefferies Group LLC reiterated a “hold” rating and set a $48.00 price target on shares of Genesco in a research note on Friday, July 14th. ValuEngine upgraded Genesco from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Finally, Piper Jaffray Companies set a $39.00 price target on Genesco and gave the company a “buy” rating in a research note on Saturday, June 24th.
In other Genesco news, Director Kevin Patrick Mcdermott bought 1,000 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were purchased at an average price of $32.32 per share, for a total transaction of $32,320.00. Following the purchase, the director now directly owns 8,657 shares of the company’s stock, valued at $279,794.24. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 3.30% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Genesco by 45,756.3% in the first quarter. BlackRock Inc. now owns 2,482,203 shares of the company’s stock worth $137,638,000 after buying an additional 2,476,790 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of Genesco by 9.4% in the second quarter. Eagle Asset Management Inc. now owns 2,064,808 shares of the company’s stock worth $69,996,000 after buying an additional 177,335 shares during the last quarter. Vanguard Group Inc. boosted its stake in Genesco by 0.8% in the first quarter. Vanguard Group Inc. now owns 1,964,020 shares of the company’s stock worth $108,905,000 after buying an additional 15,003 shares during the period. Royce & Associates LP boosted its stake in Genesco by 1.2% in the first quarter. Royce & Associates LP now owns 659,510 shares of the company’s stock worth $36,570,000 after buying an additional 7,500 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Genesco by 59.2% in the second quarter. Victory Capital Management Inc. now owns 647,015 shares of the company’s stock worth $21,934,000 after buying an additional 240,722 shares during the period.
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Genesco (GCO) traded up 0.88% on Friday, hitting $28.70. The stock had a trading volume of 342,689 shares. Genesco has a 52 week low of $27.75 and a 52 week high of $74.21. The stock has a market capitalization of $562.32 million, a price-to-earnings ratio of 6.45 and a beta of 1.24. The company has a 50-day moving average price of $32.07 and a 200-day moving average price of $46.89.
Genesco (NYSE:GCO) last released its quarterly earnings results on Thursday, May 25th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by $0.22. The company had revenue of $643.40 million for the quarter, compared to analyst estimates of $644.15 million. Genesco had a net margin of 3.07% and a return on equity of 8.41%. Genesco’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 EPS. Equities research analysts anticipate that Genesco will post $3.89 earnings per share for the current fiscal year.
Genesco Company Profile
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. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.
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