Zacks Investment Research upgraded shares of Genesco (NYSE:GCO) from a hold rating to a buy rating in a research note released on Friday. They currently have $44.00 price objective on the stock.
According to Zacks, “Genesco Inc., a Nashville-based specialty retailer, sells footwear, headwear and accessories in retail stores in the United States and Canada. The Company sells its products principally under the names Journeys, Journeys Kidz, Shi by Journeys, Johnston & Murphy, Underground Station, Hatworld, Lids, Hat Shack, Hat Zone, Head Quarters and Cap Connection, and on internet websites. The Company also sells footwear at wholesale under its Johnston & Murphy brand and under the licensed Dockers brand. “
Other equities research analysts have also recently issued reports about the company. Jefferies Group set a $42.00 price target on Genesco and gave the company a buy rating in a research note on Thursday, January 18th. Robert W. Baird reiterated a hold rating and issued a $35.00 price target on shares of Genesco in a research note on Wednesday, January 3rd. Piper Jaffray Companies set a $44.00 price objective on shares of Genesco and gave the company a buy rating in a research report on Thursday, March 15th. Susquehanna Bancshares restated a hold rating and set a $31.00 price objective on shares of Genesco in a research report on Tuesday, January 16th. Finally, Pivotal Research downgraded shares of Genesco from a buy rating to a hold rating and lowered their price objective for the company from $46.00 to $41.00 in a research report on Thursday, March 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Genesco has an average rating of Hold and a consensus target price of $40.00.
Shares of Genesco stock opened at $39.05 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.70 and a quick ratio of 0.60. The stock has a market capitalization of $793.54, a P/E ratio of -6.71, a P/E/G ratio of 1.24 and a beta of 1.11. Genesco has a 12 month low of $20.90 and a 12 month high of $59.45.
Genesco (NYSE:GCO) last issued its quarterly earnings results on Thursday, March 15th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.06. The business had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $902.00 million. Genesco had a positive return on equity of 7.07% and a negative net margin of 3.85%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.15 earnings per share. research analysts predict that Genesco will post 3.38 EPS for the current year.
Several large investors have recently made changes to their positions in GCO. Public Employees Retirement System of Ohio increased its holdings in shares of Genesco by 16.9% during the second quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock worth $145,000 after buying an additional 618 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Genesco during the fourth quarter worth $216,000. Pinnacle Financial Partners Inc. acquired a new position in shares of Genesco during the third quarter worth $226,000. Crossmark Global Holdings Inc. acquired a new position in shares of Genesco during the third quarter worth $240,000. Finally, Wolverine Trading LLC increased its holdings in shares of Genesco by 113.1% during the fourth quarter. Wolverine Trading LLC now owns 7,883 shares of the company’s stock worth $256,000 after buying an additional 4,183 shares in the last quarter. Institutional investors own 99.24% of the company’s stock.
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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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