Genesco Inc. (NYSE:GCO) has been assigned a $33.00 price objective by SunTrust Banks, Inc. in a research report issued on Monday. The brokerage presently has a “buy” rating on the stock. SunTrust Banks, Inc.’s target price would suggest a potential upside of 42.86% from the company’s current price.
Other analysts have also recently issued research reports about the company. ValuEngine upgraded Genesco from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Piper Jaffray Companies set a $39.00 target price on Genesco and gave the stock a “buy” rating in a report on Saturday, June 24th. Morgan Stanley decreased their target price on Genesco from $38.00 to $28.00 and set an “equal weight” rating for the company in a report on Wednesday, September 13th. Jefferies Group LLC restated a “hold” rating and issued a $48.00 price target on shares of Genesco in a report on Friday, July 14th. Finally, Zacks Investment Research upgraded Genesco from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $32.71.
Genesco (GCO) traded down 0.65% on Monday, hitting $22.95. 33,835 shares of the stock traded hands. The stock has a market cap of $457.14 million, a price-to-earnings ratio of 6.44 and a beta of 1.35. Genesco has a 12-month low of $20.90 and a 12-month high of $72.00. The firm’s 50-day moving average price is $25.30 and its 200-day moving average price is $35.95.
Genesco (NYSE:GCO) last issued its earnings results on Thursday, August 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.04). Genesco had a return on equity of 7.36% and a net margin of 2.43%. The firm had revenue of $616.50 million for the quarter, compared to analysts’ expectations of $626.93 million. During the same quarter in the previous year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that Genesco will post $3.38 EPS for the current fiscal year.
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In other Genesco news, Chairman Robert J. Dennis bought 25,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The stock was bought at an average cost of $23.81 per share, for a total transaction of $595,250.00. Following the purchase, the chairman now owns 224,935 shares in the company, valued at approximately $5,355,702.35. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Mimi Eckel Vaughn bought 10,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The shares were acquired at an average price of $24.16 per share, with a total value of $241,600.00. Following the completion of the purchase, the senior vice president now owns 87,140 shares in the company, valued at approximately $2,105,302.40. The disclosure for this purchase can be found here. 3.30% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in shares of Genesco by 26.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,347 shares of the company’s stock valued at $130,000 after buying an additional 487 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Genesco by 77.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock valued at $131,000 after buying an additional 1,703 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Genesco by 44.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock valued at $142,000 after buying an additional 775 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Genesco during the 2nd quarter valued at approximately $144,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Genesco by 16.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock valued at $145,000 after buying an additional 618 shares during the last quarter. Institutional investors own 94.38% 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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