Brokerages Set Genesco Inc. (NYSE:GCO) PT at $62.33
Genesco Inc. (NYSE:GCO) has earned a consensus rating of “Hold” from the eleven brokerages that are covering the firm. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $62.33.
A number of analysts have weighed in on the stock. B. Riley reissued a “neutral” rating and set a $56.00 target price on shares of Genesco in a research report on Sunday, September 4th. Zacks Investment Research downgraded shares of Genesco from a “hold” rating to a “sell” rating in a research report on Tuesday, August 2nd. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $62.00 price objective on shares of Genesco in a research report on Thursday, September 1st. Morgan Stanley downgraded shares of Genesco from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $79.00 to $74.00 in a research report on Wednesday, July 20th. Finally, TheStreet downgraded shares of Genesco from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th.
Genesco (NYSE:GCO) opened at 54.13 on Tuesday. The firm has a market capitalization of $1.12 billion, a P/E ratio of 11.35 and a beta of 1.10. The company’s 50-day moving average is $60.07 and its 200-day moving average is $65.13. Genesco has a one year low of $47.66 and a one year high of $74.21.
Genesco (NYSE:GCO) last released its earnings results on Thursday, September 1st. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. The business 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 revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. Equities analysts forecast that Genesco will post $3.89 earnings per share for the current fiscal year.
In related news, Director David M. Tehle acquired 4,100 shares of the company’s stock in a transaction on Friday, September 9th. The shares were acquired at an average cost of $48.66 per share, for a total transaction of $199,506.00. Following the purchase, the director now owns 6,006 shares in the company, valued at $292,251.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leonard L. Berry acquired 2,000 shares of the company’s stock in a transaction on Friday, September 16th. The shares were bought at an average price of $51.34 per share, for a total transaction of $102,680.00. Following the completion of the purchase, the director now owns 28,277 shares in the company, valued at approximately $1,451,741.18. The disclosure for this purchase can be found here. Company insiders own 3.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of GCO. BlackRock Inc. boosted its stake in Genesco by 60.2% in the first quarter. BlackRock Inc. now owns 2,184 shares of the company’s stock worth $157,000 after buying an additional 821 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in Genesco during the second quarter worth approximately $142,000. Invictus RG acquired a new stake in Genesco during the second quarter worth approximately $152,000. Teacher Retirement System of Texas boosted its stake in Genesco by 6.1% in the second quarter. Teacher Retirement System of Texas now owns 3,113 shares of the company’s stock worth $200,000 after buying an additional 178 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Genesco by 7.2% in the second quarter. Public Employees Retirement System of Ohio now owns 3,155 shares of the company’s stock worth $203,000 after buying an additional 212 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.
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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