Genesco Inc. (GCO) Receives Average Rating of “Hold” from Analysts

Genesco Inc. (NYSE:GCO) has earned an average rating of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $43.00.

A number of analysts have commented on GCO shares. Zacks Investment Research lowered shares of Genesco from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Pivotal Research lowered shares of Genesco from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a report on Wednesday, January 9th. They noted that the move was a valuation call. ValuEngine lowered shares of Genesco from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Finally, TheStreet raised shares of Genesco from a “c+” rating to a “b” rating in a report on Tuesday, January 8th.

GCO traded down $1.05 during trading on Thursday, reaching $45.83. 219,634 shares of the company’s stock were exchanged, compared to its average volume of 342,894. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.48 and a current ratio of 2.26. Genesco has a fifty-two week low of $36.60 and a fifty-two week high of $51.85. The firm has a market capitalization of $938.15 million, a PE ratio of 14.60, a P/E/G ratio of 2.57 and a beta of 0.72.

Genesco (NYSE:GCO) last released its earnings results on Thursday, December 6th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.09. Genesco had a net margin of 2.31% and a return on equity of 7.21%. The firm had revenue of $713.10 million during the quarter, compared to analyst estimates of $712.06 million. During the same quarter in the previous year, the business earned $1.02 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts forecast that Genesco will post 3.27 EPS for the current year.

Genesco declared that its Board of Directors has initiated a stock repurchase plan on Friday, December 14th that permits the company to repurchase $125.00 million in shares. This repurchase authorization permits the company to buy up to 14.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

In other news, Director Marty G. Dickens sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $49.50, for a total value of $247,500.00. Following the completion of the transaction, the director now owns 18,578 shares of the company’s stock, valued at approximately $919,611. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert J. Dennis sold 11,380 shares of the business’s stock in a transaction on Wednesday, January 23rd. The shares were sold at an average price of $47.14, for a total transaction of $536,453.20. Following the completion of the transaction, the chief executive officer now directly owns 261,361 shares of the company’s stock, valued at approximately $12,320,557.54. The disclosure for this sale can be found here. Insiders sold a total of 16,880 shares of company stock valued at $807,953 in the last three months. 4.30% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in GCO. Canada Pension Plan Investment Board grew its holdings in shares of Genesco by 99.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 595,200 shares of the company’s stock valued at $26,365,000 after buying an additional 297,144 shares during the period. WINTON GROUP Ltd bought a new stake in Genesco in the 4th quarter valued at $11,625,000. Morgan Stanley lifted its position in Genesco by 128.6% in the 3rd quarter. Morgan Stanley now owns 314,676 shares of the company’s stock valued at $14,821,000 after acquiring an additional 177,047 shares in the last quarter. Prudential Financial Inc. lifted its position in Genesco by 40.1% in the 4th quarter. Prudential Financial Inc. now owns 553,889 shares of the company’s stock valued at $24,537,000 after acquiring an additional 158,448 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd lifted its position in Genesco by 165.5% in the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 194,997 shares of the company’s stock valued at $8,638,000 after acquiring an additional 121,546 shares in the last quarter.

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.

See Also: Net Income

Analyst Recommendations for Genesco (NYSE:GCO)

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