Genesco (NYSE:GCO) Lifted to “Buy” at Pivotal Research

Pivotal Research upgraded shares of Genesco (NYSE:GCO) from a hold rating to a buy rating in a research note published on Monday, BenzingaRatingsTable reports. The brokerage currently has $48.00 price target on the stock, up from their prior price target of $40.00.

Several other research analysts have also recently commented on the company. Susquehanna Bancshares set a $48.00 price target on Genesco and gave the company a buy rating in a research report on Friday, September 6th. TheStreet cut Genesco from a b rating to a c+ rating in a research report on Wednesday, June 5th. ValuEngine cut Genesco from a hold rating to a sell rating in a research report on Friday, July 19th. Finally, Zacks Investment Research cut Genesco from a strong-buy rating to a hold rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Genesco presently has a consensus rating of Buy and a consensus target price of $46.00.

GCO stock opened at $43.04 on Monday. The business has a 50-day moving average of $36.45 and a 200-day moving average of $42.12. Genesco has a fifty-two week low of $31.65 and a fifty-two week high of $50.73. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.43 and a quick ratio of 0.32. The stock has a market capitalization of $709.23 million, a P/E ratio of 13.12, a P/E/G ratio of 2.04 and a beta of 0.53.



Genesco (NYSE:GCO) last issued its quarterly earnings results on Friday, September 6th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.18. Genesco had a positive return on equity of 9.83% and a negative net margin of 1.80%. The firm had revenue of $486.57 million during the quarter, compared to analysts’ expectations of $491.65 million. During the same period in the prior year, the firm posted $0.04 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. Equities analysts expect that Genesco will post 4.01 EPS for the current year.

In other news, VP Mario Gallione sold 2,049 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $40.31, for a total value of $82,595.19. Following the completion of the sale, the vice president now directly owns 36,309 shares of the company’s stock, valued at $1,463,615.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GCO. DekaBank Deutsche Girozentrale acquired a new stake in shares of Genesco in the second quarter valued at approximately $112,000. Panagora Asset Management Inc. acquired a new stake in shares of Genesco in the second quarter valued at approximately $126,000. Quantamental Technologies LLC acquired a new stake in shares of Genesco in the second quarter valued at approximately $128,000. NumerixS Investment Technologies Inc lifted its position in shares of Genesco by 500.0% in the first quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the company’s stock valued at $164,000 after buying an additional 3,000 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Genesco in the second quarter valued at approximately $204,000. 94.82% of the stock is owned by institutional investors.

Genesco Company Profile

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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