Genesco (GCO) PT Set at $41.00 by Piper Jaffray Companies

Piper Jaffray Companies set a $41.00 price target on Genesco (NYSE:GCO) in a research note released on Friday morning. The firm currently has a hold rating on the stock. Piper Jaffray Companies also issued estimates for Genesco’s Q4 2019 earnings at $2.18 EPS, FY2019 earnings at $3.10 EPS, Q4 2020 earnings at $2.27 EPS and FY2020 earnings at $3.40 EPS.

A number of other brokerages have also issued reports on GCO. Pivotal Research upgraded shares of Genesco from a hold rating to a buy rating and boosted their price target for the stock from $44.00 to $54.00 in a research note on Thursday, August 30th. Zacks Investment Research lowered shares of Genesco from a buy rating to a hold rating in a research note on Wednesday, November 7th. ValuEngine lowered shares of Genesco from a buy rating to a hold rating in a research note on Wednesday, November 21st. Finally, Macquarie upped their target price on shares of Genesco from $28.00 to $32.00 and gave the stock a hold rating in a research note on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Genesco presently has a consensus rating of Hold and a consensus target price of $41.78.

Shares of NYSE:GCO opened at $43.71 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.53 and a current ratio of 2.43. The stock has a market cap of $843.25 million, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 1.74 and a beta of 1.03. Genesco has a 1 year low of $25.45 and a 1 year high of $51.85.

Genesco (NYSE:GCO) last issued its quarterly earnings results on Friday, September 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.08. The company had revenue of $653.90 million for the quarter, compared to analyst estimates of $641.07 million. Genesco had a negative net margin of 3.77% and a positive return on equity of 7.53%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.10) earnings per share. Analysts anticipate that Genesco will post 3.2 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. NumerixS Investment Technologies Inc acquired a new stake in shares of Genesco in the second quarter valued at approximately $106,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Genesco in the second quarter valued at approximately $184,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Genesco in the third quarter valued at approximately $222,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Genesco in the third quarter valued at approximately $224,000. Finally, Zeke Capital Advisors LLC acquired a new stake in shares of Genesco in the third quarter valued at approximately $252,000.

About Genesco

Genesco Inc retails and wholesales footwear, apparel, and accessories. The company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, Shi by Journeys, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

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