Genesco Inc. (GCO) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Genesco Inc. (NYSE:GCO) from a hold rating to a buy rating in a research report sent to investors on Thursday, July 13th.

Several other equities analysts have also recently commented on GCO. Piper Jaffray Companies upgraded shares of Genesco from a neutral rating to an overweight rating and dropped their target price for the company from $63.00 to $62.00 in a research report on Thursday, April 20th. Jefferies Group LLC set a $62.00 target price on shares of Genesco and gave the company a hold rating in a research report on Thursday, April 20th. UBS AG upgraded shares of Genesco from a neutral rating to a positive rating in a research report on Wednesday, April 26th. Susquehanna Bancshares Inc upgraded shares of Genesco from a neutral rating to a positive rating and set a $66.00 price objective for the company in a research report on Wednesday, April 26th. Finally, Zacks Investment Research upgraded shares of Genesco from a sell rating to a hold rating in a research report on Thursday, May 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $48.29.

Genesco (NYSE:GCO) opened at 32.50 on Thursday. Genesco has a 12-month low of $28.88 and a 12-month high of $74.21. The company has a market capitalization of $636.77 million, a price-to-earnings ratio of 7.30 and a beta of 1.24. The stock’s 50 day moving average price is $32.50 and its 200 day moving average price is $48.01.

Genesco (NYSE:GCO) last issued its earnings results on Thursday, May 25th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.28 by $0.22. The firm had revenue of $643.40 million during the quarter, compared to analyst estimates of $644.15 million. Genesco had a net margin of 3.07% and a return on equity of 8.41%. Genesco’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 earnings per share. On average, equities research analysts anticipate that Genesco will post $3.89 earnings per share for the current fiscal year.

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In other Genesco news, Director Kevin Patrick Mcdermott acquired 1,000 shares of the company’s stock in a transaction on Thursday, July 6th. The shares were purchased at an average cost of $32.32 per share, with a total value of $32,320.00. Following the completion of the purchase, the director now owns 8,657 shares of the company’s stock, valued at $279,794.24. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. LSV Asset Management increased its stake in shares of Genesco by 36.3% in the first quarter. LSV Asset Management now owns 30,400 shares of the company’s stock valued at $1,685,000 after buying an additional 8,100 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Genesco by 2.3% in the first quarter. Great West Life Assurance Co. Can now owns 27,571 shares of the company’s stock worth $1,525,000 after buying an additional 633 shares during the period. Russell Investments Group Ltd. increased its stake in Genesco by 130.9% in the first quarter. Russell Investments Group Ltd. now owns 4,212 shares of the company’s stock worth $233,000 after buying an additional 2,388 shares during the period. Shell Asset Management Co. acquired a new position in shares of Genesco during the first quarter worth $1,073,000. Finally, James Investment Research Inc. acquired a new position in shares of Genesco during the first quarter worth $1,746,000.

Genesco Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Genesco (NYSE:GCO)

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