Analysts Set Genesco Inc. (GCO) Price Target at $32.67
Genesco Inc. (NYSE:GCO) has been assigned an average recommendation of “Hold” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $32.67.
Several research analysts have recently issued reports on the company. Piper Jaffray Companies set a $39.00 price objective on Genesco and gave the stock a “buy” rating in a research report on Saturday, June 24th. ValuEngine raised Genesco from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “hold” rating and set a $48.00 price objective on shares of Genesco in a research report on Friday, July 14th. BidaskClub cut Genesco from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research raised Genesco from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 1st.
In other news, Chairman Robert J. Dennis bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average cost of $23.81 per share, with a total value of $595,250.00. Following the transaction, the chairman now directly owns 224,935 shares in the company, valued at $5,355,702.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Mimi Eckel Vaughn bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average cost of $24.16 per share, with a total value of $241,600.00. Following the completion of the transaction, the senior vice president now owns 87,140 shares in the company, valued at $2,105,302.40. The disclosure for this purchase can be found here. 3.30% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its position in shares of Genesco by 16.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock valued at $145,000 after purchasing an additional 618 shares during the period. Verition Fund Management LLC boosted its position in shares of Genesco by 391.7% in the 2nd quarter. Verition Fund Management LLC now owns 18,683 shares of the company’s stock valued at $633,000 after purchasing an additional 14,883 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of Genesco in the 2nd quarter valued at about $144,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Genesco by 3.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 99,299 shares of the company’s stock valued at $3,366,000 after purchasing an additional 3,199 shares during the period. Finally, State Street Corp boosted its position in shares of Genesco by 12.4% in the 2nd quarter. State Street Corp now owns 648,235 shares of the company’s stock valued at $21,977,000 after purchasing an additional 71,541 shares during the period. 94.38% of the stock is owned by hedge funds and other institutional investors.
Genesco (NYSE GCO) traded down 1.12% during midday trading on Friday, reaching $26.45. The company’s stock had a trading volume of 369,135 shares. The firm has a market capitalization of $526.86 million, a PE ratio of 7.43 and a beta of 1.36. Genesco has a 1-year low of $20.90 and a 1-year high of $72.00. The stock’s 50-day moving average price is $25.24 and its 200 day moving average price is $37.57.
Genesco (NYSE:GCO) last released its earnings results on Thursday, August 31st. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.04). Genesco had a return on equity of 7.36% and a net margin of 2.43%. The company had revenue of $616.50 million for the quarter, compared to analyst estimates of $626.93 million. During the same period in the previous year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts anticipate that Genesco will post $3.38 EPS for the current fiscal year.
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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