Zacks Investment Research upgraded shares of Genesco (NYSE:GCO) from a sell rating to a hold rating in a research note released on Tuesday. Zacks Investment Research currently has $53.00 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. “
A number of other research firms also recently issued reports on GCO. Macquarie raised their price target on Genesco from $28.00 to $32.00 and gave the stock a hold rating in a research note on Monday. Pivotal Research set a $55.00 price target on Genesco and gave the stock a buy rating in a research note on Monday. CL King downgraded Genesco from a buy rating to a neutral rating in a research note on Tuesday, May 29th. They noted that the move was a valuation call. ValuEngine upgraded Genesco from a hold rating to a buy rating in a research note on Saturday, May 26th. Finally, Piper Jaffray Companies downgraded Genesco from an overweight rating to a neutral rating and dropped their price target for the stock from $45.90 to $20.90 in a research note on Friday, June 1st. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Genesco has an average rating of Hold and a consensus price target of $39.88.
NYSE:GCO opened at $45.65 on Tuesday. The company has a market cap of $939.00 million, a P/E ratio of 14.54, a PEG ratio of 1.94 and a beta of 1.07. The company has a current ratio of 2.43, a quick ratio of 0.53 and a debt-to-equity ratio of 0.10. Genesco has a 52-week low of $22.55 and a 52-week high of $51.85.
Genesco (NYSE:GCO) last released its quarterly earnings results on Friday, September 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The firm had revenue of $653.90 million for the quarter, compared to the consensus estimate of $641.07 million. Genesco had a positive return on equity of 7.53% and a negative net margin of 3.77%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) EPS. research analysts expect that Genesco will post 3.24 EPS for the current fiscal year.
In other Genesco news, Director Kathleen Mason sold 2,000 shares of Genesco stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $48.91, for a total value of $97,820.00. Following the transaction, the director now directly owns 43,626 shares in the company, valued at approximately $2,133,747.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of GCO. NumerixS Investment Technologies Inc acquired a new stake in shares of Genesco in the 2nd quarter valued at approximately $106,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Genesco in the 2nd quarter valued at approximately $184,000. Pacific Ridge Capital Partners LLC acquired a new stake in shares of Genesco in the 1st quarter valued at approximately $237,000. Jane Street Group LLC acquired a new stake in shares of Genesco in the 1st quarter valued at approximately $239,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Genesco in the 1st quarter valued at approximately $241,000.
Genesco Inc retails and wholesales footwear, apparel, and accessories. The company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, Shi by Journeys, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.
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