Genesco (NYSE:GCO) Upgraded at Zacks Investment Research

Genesco (NYSE:GCO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage currently has a $47.00 price target on the stock. Zacks Investment Research‘s price target points to a potential upside of 10.15% from the stock’s current price.

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. “

GCO has been the subject of several other research reports. Susquehanna Bancshares set a $48.00 target price on Genesco and gave the company a “buy” rating in a research note on Friday. TheStreet lowered Genesco from a “b” rating to a “c+” rating in a report on Wednesday, June 5th. Pivotal Research raised Genesco from a “hold” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $48.00 in a research report on Monday. Finally, ValuEngine lowered Genesco from a “hold” rating to a “sell” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $43.20.



Genesco stock traded up $1.79 on Tuesday, reaching $42.67. 597,615 shares of the stock were exchanged, compared to its average volume of 327,420. The stock has a market cap of $597.55 million, a PE ratio of 13.01, a PEG ratio of 1.81 and a beta of 0.54. The company has a current ratio of 1.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.25. Genesco has a twelve month low of $31.65 and a twelve month high of $50.73. The firm has a fifty day moving average price of $36.40 and a two-hundred day moving average price of $42.14.

Genesco (NYSE:GCO) last released its quarterly earnings results on Friday, September 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.18. The company had revenue of $486.57 million during the quarter, compared to analysts’ expectations of $491.65 million. Genesco had a negative net margin of 1.80% and a positive return on equity of 9.83%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 earnings per share. Equities analysts anticipate that Genesco will post 4 EPS for the current fiscal year.

In related news, Director Thurgood Marshall, Jr. sold 1,690 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $44.57, for a total transaction of $75,323.30. Following the completion of the transaction, the director now directly owns 9,724 shares in the company, valued at $433,398.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Mario Gallione sold 2,049 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $40.31, for a total value of $82,595.19. Following the transaction, the vice president now owns 36,309 shares of the company’s stock, valued at $1,463,615.79. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GCO. NumerixS Investment Technologies Inc boosted its position in Genesco by 500.0% during the 1st quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the company’s stock worth $164,000 after acquiring an additional 3,000 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Genesco by 8.1% during the 2nd quarter. Acadian Asset Management LLC now owns 82,233 shares of the company’s stock worth $3,477,000 after buying an additional 6,143 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Genesco by 1.2% in the 1st quarter. Rhumbline Advisers now owns 59,366 shares of the company’s stock valued at $2,704,000 after acquiring an additional 681 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Genesco in the 2nd quarter valued at about $112,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Genesco by 18.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 15,769 shares of the company’s stock valued at $718,000 after acquiring an additional 2,512 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

About Genesco

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

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