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.
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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