Zacks Investment Research upgraded shares of Genesco (NYSE:GCO) from a sell rating to a hold rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $38.00 target price 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 analysts have also recently issued reports about the company. Jefferies Group set a $42.00 target price on Genesco and gave the company a buy rating in a research report on Thursday, January 18th. Robert W. Baird restated a hold rating and issued a $35.00 target price on shares of Genesco in a research report on Wednesday, January 3rd. Susquehanna Bancshares restated a hold rating and issued a $31.00 target price on shares of Genesco in a research report on Tuesday, January 16th. Piper Jaffray Companies restated a buy rating and issued a $39.00 target price on shares of Genesco in a research report on Wednesday, November 1st. Finally, TheStreet cut Genesco from a c- rating to a d rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $37.40.

Shares of Genesco (NYSE GCO) opened at $33.15 on Wednesday. Genesco has a 1 year low of $20.90 and a 1 year high of $63.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.31 and a quick ratio of 0.47. The company has a market capitalization of $684.02, a P/E ratio of 10.97, a P/E/G ratio of 1.14 and a beta of 1.32.

Genesco (NYSE:GCO) last posted its earnings results on Friday, December 1st. The company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.10). Genesco had a negative net margin of 4.24% and a positive return on equity of 6.93%. The business had revenue of $716.80 million during the quarter, compared to analyst estimates of $706.58 million. During the same quarter in the prior year, the business earned $1.28 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. equities analysts anticipate that Genesco will post 3.07 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. QS Investors LLC bought a new position in Genesco during the 2nd quarter valued at $1,059,000. Prudential Financial Inc. boosted its stake in Genesco by 38.7% during the 3rd quarter. Prudential Financial Inc. now owns 332,807 shares of the company’s stock valued at $8,852,000 after purchasing an additional 92,940 shares in the last quarter. Teachers Advisors LLC boosted its stake in Genesco by 16.2% during the 2nd quarter. Teachers Advisors LLC now owns 41,924 shares of the company’s stock valued at $1,421,000 after purchasing an additional 5,859 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Genesco by 37.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 68,756 shares of the company’s stock valued at $2,331,000 after purchasing an additional 18,558 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Genesco by 74.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 95,972 shares of the company’s stock valued at $3,253,000 after purchasing an additional 40,834 shares in the last quarter. 97.99% of the stock is owned by hedge funds and other institutional investors.

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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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