Genesco Inc. (GCO) Given New $30.00 Price Target at Buckingham Research
A number of other equities research analysts have also recently issued reports on GCO. Jefferies Group LLC set a $48.00 price objective on Genesco and gave the stock a hold rating in a report on Saturday, August 19th. Zacks Investment Research upgraded Genesco from a strong sell rating to a hold rating in a report on Tuesday, November 14th. SunTrust Banks, Inc. set a $33.00 price objective on Genesco and gave the stock a buy rating in a report on Monday, October 16th. ValuEngine upgraded Genesco from a hold rating to a buy rating in a research note on Monday, October 2nd. Finally, BidaskClub upgraded Genesco from a strong sell rating to a sell rating in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Genesco presently has an average rating of Hold and a consensus price target of $33.71.
Shares of Genesco (NYSE:GCO) traded up $0.25 during midday trading on Monday, reaching $29.85. The company’s stock had a trading volume of 675,800 shares, compared to its average volume of 397,445. The firm has a market capitalization of $589.60, a P/E ratio of 8.73, a PEG ratio of 0.90 and a beta of 1.27. The company has a current ratio of 2.38, a quick ratio of 0.47 and a debt-to-equity ratio of 0.21. Genesco has a 1 year low of $20.90 and a 1 year high of $72.00.
Genesco (NYSE:GCO) last announced its quarterly earnings results on Thursday, August 31st. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). Genesco had a return on equity of 7.36% and a net margin of 2.43%. The business had revenue of $616.50 million for the quarter, compared to analyst estimates of $626.93 million. During the same period last year, the firm earned $0.34 EPS. Genesco’s quarterly revenue was down 1.5% compared to the same quarter last year. equities analysts forecast that Genesco will post 3.45 EPS for the current fiscal year.
In other Genesco news, SVP Mimi Eckel Vaughn purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was purchased at an average cost of $24.16 per share, for a total transaction of $241,600.00. Following the acquisition, the senior vice president now owns 87,140 shares in the company, valued at approximately $2,105,302.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Robert J. Dennis purchased 25,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were acquired at an average price of $23.81 per share, with a total value of $595,250.00. Following the completion of the acquisition, the chairman now owns 224,935 shares in the company, valued at approximately $5,355,702.35. The disclosure for this purchase can be found here. Corporate insiders own 3.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Genesco by 45,756.3% during the 1st quarter. BlackRock Inc. now owns 2,482,203 shares of the company’s stock worth $137,638,000 after acquiring an additional 2,476,790 shares during the period. Eagle Asset Management Inc. boosted its position in shares of Genesco by 9.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 2,064,808 shares of the company’s stock worth $69,996,000 after purchasing an additional 177,335 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Genesco by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 1,964,020 shares of the company’s stock worth $108,905,000 after purchasing an additional 15,003 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Genesco by 0.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 909,846 shares of the company’s stock worth $24,202,000 after purchasing an additional 3,578 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Genesco by 12.4% during the 2nd quarter. State Street Corp now owns 648,235 shares of the company’s stock worth $21,977,000 after purchasing an additional 71,541 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.
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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