Zacks Investment Research cut shares of Genesco (NYSE:GCO) from a buy rating to a hold rating in a report issued on Monday morning.
According to Zacks, “Genesco Inc., a Nashville-based specialty retailer, sells footwear, headwear and accessories in retail stores in the United States and Canada. The Company sells its products principally under the names Journeys, Journeys Kidz, Shi by Journeys, Johnston & Murphy, Underground Station, Hatworld, Lids, Hat Shack, Hat Zone, Head Quarters and Cap Connection, and on internet websites. The Company also sells footwear at wholesale under its Johnston & Murphy brand and under the licensed Dockers brand. “
A number of other brokerages also recently issued reports on GCO. ValuEngine downgraded Genesco from a buy rating to a hold rating in a report on Wednesday, March 7th. Pivotal Research set a $46.00 price target on Genesco and gave the company a buy rating in a report on Wednesday, March 14th. Jefferies Group set a $45.00 price target on Genesco and gave the company a buy rating in a report on Monday, February 26th. SunTrust Banks set a $44.00 price target on Genesco and gave the company a buy rating in a report on Thursday, March 15th. Finally, Piper Jaffray Companies set a $44.00 price target on Genesco and gave the company a buy rating in a report on Thursday, March 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $40.00.
Genesco stock opened at $39.95 on Monday. The stock has a market capitalization of $777.61, a price-to-earnings ratio of -6.86, a PEG ratio of 1.24 and a beta of 1.11. The company has a current ratio of 2.70, a quick ratio of 0.60 and a debt-to-equity ratio of 0.10. Genesco has a 1-year low of $20.90 and a 1-year high of $57.70.
Genesco (NYSE:GCO) last announced its quarterly earnings results on Thursday, March 15th. The company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.06. The firm had revenue of $930.00 million for the quarter, compared to the consensus estimate of $902.00 million. Genesco had a positive return on equity of 7.07% and a negative net margin of 3.85%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.15 earnings per share. analysts predict that Genesco will post 3.33 EPS for the current year.
Hedge funds have recently bought and sold shares of the business. Carillon Tower Advisers Inc. bought a new position in Genesco in the fourth quarter valued at about $42,811,000. Heartland Advisors Inc. bought a new position in Genesco in the fourth quarter valued at about $3,461,000. Legion Partners Asset Management LLC bought a new position in Genesco in the fourth quarter valued at about $26,777,000. Victory Capital Management Inc. lifted its holdings in Genesco by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 552,829 shares of the company’s stock valued at $17,967,000 after acquiring an additional 9,744 shares during the period. Finally, Wealthstreet Investment Advisors LLC bought a new position in Genesco in the fourth quarter valued at about $823,000. 99.24% of the stock is currently owned by institutional investors.
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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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