Genesco Inc. (NYSE:GCO) has been given a consensus rating of “Hold” by the ten ratings firms that are currently covering the firm. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $63.29.
A number of equities analysts have weighed in on the stock. B. Riley reaffirmed a “neutral” rating and set a $65.00 price target on shares of Genesco in a research note on Monday, November 28th. Jefferies Group LLC set a $62.00 price objective on shares of Genesco and gave the stock a “hold” rating in a research report on Sunday, December 4th. Zacks Investment Research raised shares of Genesco from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Monday, February 6th. Piper Jaffray Companies reissued a “hold” rating and issued a $50.00 price objective on shares of Genesco in a research report on Monday, December 5th. Finally, TheStreet lowered shares of Genesco from a “b-” rating to a “c+” rating in a research report on Monday, February 6th.
Shares of Genesco (NYSE:GCO) opened at 62.75 on Wednesday. Genesco has a 52-week low of $47.66 and a 52-week high of $74.21. The stock has a market capitalization of $1.25 billion, a PE ratio of 13.60 and a beta of 1.28. The stock’s 50 day moving average is $61.15 and its 200 day moving average is $61.36.
Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, December 2nd. The company reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.35. The company had revenue of $711 million for the quarter, compared to the consensus estimate of $716.89 million. Genesco had a net margin of 3.34% and a return on equity of 10.10%. Genesco’s revenue was down 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 earnings per share. Equities research analysts expect that Genesco will post $3.99 earnings per share for the current fiscal year.
In other Genesco news, Director Marty G. Dickens sold 4,000 shares of the stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $70.84, for a total transaction of $283,360.00. Following the transaction, the director now directly owns 14,079 shares in the company, valued at approximately $997,356.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thurgood Marshall, Jr. sold 1,572 shares of the stock in a transaction on Thursday, December 29th. The shares were sold at an average price of $61.27, for a total transaction of $96,316.44. Following the transaction, the director now owns 9,016 shares in the company, valued at $552,410.32. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of GCO. Teacher Retirement System of Texas increased its position 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 period. Public Employees Retirement System of Ohio increased its position 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 period. Royal Bank of Canada increased its position in Genesco by 261.6% in the second quarter. Royal Bank of Canada now owns 3,641 shares of the company’s stock worth $234,000 after buying an additional 2,634 shares during the period. Weiss Asset Management LP bought a new position in Genesco during the third quarter worth approximately $238,000. Finally, Municipal Employees Retirement System of Michigan increased its position in Genesco by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,640 shares of the company’s stock worth $253,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 95.46% of the company’s stock.
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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. 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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