Genesco Inc. (NYSE:GCO) Given Average Recommendation of “Hold” by Analysts

Shares of Genesco Inc. (NYSE:GCO) have earned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $67.63.

Several equities research analysts recently weighed in on GCO shares. Susquehanna reduced their price target on shares of Genesco from $77.00 to $72.00 and set a “positive” rating on the stock in a research report on Wednesday, September 9th. CL King upgraded shares of Genesco from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 8th. Sterne Agee CRT upgraded shares of Genesco from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Tuesday, October 13th. Jefferies Group reduced their price target on shares of Genesco from $67.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, October 2nd. Finally, Piper Jaffray restated a “hold” rating and issued a $67.00 price target on shares of Genesco in a research report on Tuesday, November 3rd.

In other news, SVP Kenneth Kocher sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 16th. The shares were sold at an average price of $55.83, for a total transaction of $558,300.00. Following the transaction, the senior vice president now owns 64,269 shares in the company, valued at $3,588,138.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert J. Dennis sold 15,000 shares of the company’s stock in a transaction dated Wednesday, December 9th. The shares were sold at an average price of $55.80, for a total transaction of $837,000.00. Following the transaction, the chief executive officer now owns 173,817 shares in the company, valued at approximately $9,698,988.60. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Genesco stock. Eagle Asset Management increased its stake in shares of Genesco Inc. (NYSE:GCO) by 82.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,562,752 shares of the company’s stock after buying an additional 2,517,940 shares during the period. Genesco makes up 1.1% of Eagle Asset Management’s holdings, making the stock its 4th largest position. Eagle Asset Management owned about 23.09% of Genesco worth $317,466,000 as of its most recent filing with the SEC.

Genesco (NYSE:GCO) traded down 0.12% during midday trading on Monday, hitting $56.76. 59,252 shares of the stock traded hands. Genesco has a 52-week low of $50.64 and a 52-week high of $80.63. The firm’s 50-day moving average is $55.49 and its 200-day moving average is $60.55. The company has a market cap of $1.25 billion and a price-to-earnings ratio of 13.31.

Genesco (NYSE:GCO) last released its earnings results on Friday, December 4th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.30 by $0.10. The company earned $774 million during the quarter. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.28 earnings per share. Analysts predict that Genesco will post $4.54 EPS for the current year.

12 Month Chart for NYSE:GCO

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. Journeys Group consists of Journeys, Journeys Kidz, Shi by Journeys and Underground by Journeys retail footwear chains, catalog and e-commerce operations. Schuh Group consists of the Schuh retail footwear chain and e-commerce operations. Lids Sports Group consists of Lids, the Lids Locker Room and Lids Clubhouse businesses, Locker Room, Lids Team Sports, and headwear and accessory stores. Johnston & Murphy Group consists of Johnston & Murphy retail operations, catalog and e-commerce operations and wholesale distribution of products under the Johnston & Murphy and Trask brands. Licensed Brands, consists of Dockers Footwear, sourced and marketed under a license from Levi Strauss & Company and SureGrip Footwear, occupational footwear sold directly to consumers and other brands.

 

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