Zacks Investment Research upgraded shares of Genesco Inc. (NYSE:GCO) from a sell rating to a hold rating in a research note published on Thursday.
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. “
Several other research firms have also issued reports on GCO. TheStreet lowered Genesco from a b- rating to a c+ rating in a research report on Monday, February 6th. Piper Jaffray Companies upgraded Genesco from a neutral rating to an overweight rating and reduced their price target for the stock from $63.00 to $62.00 in a research report on Thursday, April 20th. Susquehanna Bancshares Inc upgraded Genesco from a neutral rating to a positive rating and set a $66.00 price target on the stock in a research report on Wednesday, April 26th. B. Riley restated a neutral rating and set a $65.00 price target on shares of Genesco in a research report on Monday, March 6th. Finally, Jefferies Group LLC set a $62.00 price target on Genesco and gave the stock a hold rating in a research report on Thursday, April 20th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Genesco has a consensus rating of Hold and an average price target of $64.14.
Genesco (NYSE:GCO) traded down 5.94% during trading on Thursday, hitting $45.15. The company had a trading volume of 862,610 shares. Genesco has a 1-year low of $45.00 and a 1-year high of $74.21. The company’s 50 day moving average price is $52.44 and its 200-day moving average price is $59.15. The stock has a market capitalization of $885.44 million, a price-to-earnings ratio of 9.35 and a beta of 1.28.
Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, March 10th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.37. Genesco had a return on equity of 10.10% and a net margin of 3.34%. The business had revenue of $883 million for the quarter, compared to analyst estimates of $901.35 million. During the same period last year, the company earned $2.11 EPS. Genesco’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts expect that Genesco will post $4.46 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Genesco by 45,756.3% in the first quarter. BlackRock Inc. now owns 2,482,203 shares of the company’s stock valued at $137,638,000 after buying an additional 2,476,790 shares during the period. Norges Bank acquired a new stake in Genesco during the fourth quarter valued at $33,980,000. Morgan Stanley boosted its stake in Genesco by 274.4% in the first quarter. Morgan Stanley now owns 289,338 shares of the company’s stock valued at $16,044,000 after buying an additional 212,064 shares during the period. Bank of New York Mellon Corp boosted its stake in Genesco by 48.5% in the first quarter. Bank of New York Mellon Corp now owns 449,520 shares of the company’s stock valued at $24,926,000 after buying an additional 146,748 shares during the period. Finally, Hood River Capital Management LLC boosted its stake in Genesco by 31.0% in the first quarter. Hood River Capital Management LLC now owns 270,403 shares of the company’s stock valued at $14,994,000 after buying an additional 63,990 shares during the period. Institutional investors and hedge funds own 95.46% of the company’s stock.
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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