SunTrust Banks Boosts Genesco (GCO) Price Target to $39.00

Genesco (NYSE:GCO) had its target price boosted by SunTrust Banks to $39.00 in a research note released on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

GCO has been the subject of several other research reports. Jefferies Group reaffirmed a hold rating and set a $27.00 price target on shares of Genesco in a research report on Thursday, October 12th. Zacks Investment Research raised shares of Genesco from a strong sell rating to a hold rating in a research report on Thursday, January 4th. ValuEngine raised shares of Genesco from a hold rating to a buy rating in a research report on Monday, October 2nd. Robert W. Baird reaffirmed a hold rating and set a $35.00 price target on shares of Genesco in a research report on Wednesday, January 3rd. Finally, TheStreet lowered shares of 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 issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $34.25.

Genesco (NYSE:GCO) traded up $0.20 during midday trading on Tuesday, hitting $35.30. 489,673 shares of the stock traded hands, compared to its average volume of 474,670. Genesco has a 12-month low of $20.90 and a 12-month high of $65.70. The stock has a market cap of $698.95, a price-to-earnings ratio of -5.58, a P/E/G ratio of 1.20 and a beta of 1.37. The company has a quick ratio of 0.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.29.

Genesco (NYSE:GCO) last released its quarterly earnings results on Friday, December 1st. The company reported $1.02 EPS for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $706.58 million. During the same period in the previous year, the company earned $1.28 EPS. Genesco’s revenue for the quarter was up .8% compared to the same quarter last year. analysts forecast that Genesco will post 3.07 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in GCO. Citadel Advisors LLC grew its stake in shares of Genesco by 369.8% during the 2nd quarter. Citadel Advisors LLC now owns 353,341 shares of the company’s stock valued at $11,978,000 after acquiring an additional 278,134 shares during the period. Northern Trust Corp boosted its stake in Genesco by 47.5% in the 2nd quarter. Northern Trust Corp now owns 586,814 shares of the company’s stock worth $19,893,000 after purchasing an additional 188,906 shares during the period. JPMorgan Chase & Co. boosted its stake in Genesco by 635.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 190,388 shares of the company’s stock worth $5,026,000 after purchasing an additional 164,485 shares during the period. Russell Investments Group Ltd. boosted its stake in Genesco by 373.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 188,169 shares of the company’s stock worth $5,004,000 after purchasing an additional 148,403 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Genesco by 38.7% in the 3rd quarter. Prudential Financial Inc. now owns 332,807 shares of the company’s stock worth $8,852,000 after purchasing an additional 92,940 shares during the period. Institutional investors own 97.65% of the company’s stock.

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About Genesco

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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