Genesco Inc. (GCO) Given Consensus Recommendation of “Hold” by Brokerages

Genesco Inc. (NYSE:GCO) has been given an average rating of “Hold” by the fourteen brokerages that are covering the firm, reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $37.40.

A number of equities research analysts have commented on GCO shares. Jefferies Group reiterated a “hold” rating and issued a $27.00 price target on shares of Genesco in a research note on Thursday, October 12th. SunTrust Banks set a $33.00 price objective on Genesco and gave the company a “buy” rating in a report on Monday, October 16th. Piper Jaffray Companies reissued a “buy” rating and issued a $39.00 price objective on shares of Genesco in a report on Wednesday, November 1st. Zacks Investment Research raised Genesco from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Buckingham Research increased their price objective on Genesco from $23.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, November 20th.

Genesco (NYSE GCO) traded up $0.60 during trading on Friday, reaching $34.75. The company’s stock had a trading volume of 341,571 shares, compared to its average volume of 458,388. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.47 and a current ratio of 2.31. Genesco has a 52 week low of $20.90 and a 52 week high of $63.50. The stock has a market capitalization of $711.90, a PE ratio of -5.49, a PEG ratio of 1.16 and a beta of 1.32.

Genesco (NYSE:GCO) last released its quarterly earnings results on Friday, December 1st. The company reported $1.02 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $706.58 million. During the same quarter last year, the business posted $1.28 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. equities research analysts predict that Genesco will post 3.07 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in GCO. Tower Research Capital LLC TRC acquired a new position in shares of Genesco in the second quarter valued at about $144,000. Public Employees Retirement System of Ohio grew its holdings in Genesco by 16.9% during the second quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock worth $145,000 after acquiring an additional 618 shares during the period. Teacher Retirement System of Texas acquired a new stake in Genesco during the fourth quarter worth about $216,000. Pinnacle Financial Partners Inc. acquired a new stake in Genesco during the third quarter worth about $226,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Genesco during the third quarter worth about $240,000. 97.99% of the stock is currently owned by institutional investors and hedge funds.

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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. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.

Analyst Recommendations for Genesco (NYSE:GCO)

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