Genesco’s (GCO) “Buy” Rating Reiterated at Piper Jaffray Companies

Genesco Inc. (NYSE:GCO)‘s stock had its “buy” rating restated by stock analysts at Piper Jaffray Companies in a research note issued to investors on Wednesday, November 1st. They currently have a $39.00 target price on the stock. Piper Jaffray Companies’ price target indicates a potential upside of 30.65% from the company’s previous close.

Several other equities research analysts have also recently issued reports on GCO. Jefferies Group LLC set a $48.00 target price on shares of Genesco and gave the stock a “hold” rating in a research report on Saturday, August 19th. Buckingham Research decreased their target price on shares of Genesco from $38.00 to $23.00 and set a “neutral” rating on the stock in a research report on Friday, September 1st. SunTrust Banks, Inc. set a $33.00 target price on shares of Genesco and gave the stock a “buy” rating in a research report on Monday, October 16th. ValuEngine raised shares of Genesco from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, BidaskClub raised shares of Genesco from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $33.71.

Shares of Genesco (GCO) traded up $0.25 on Wednesday, hitting $29.85. 675,809 shares of the stock were exchanged, compared to its average volume of 397,445. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.38 and a quick ratio of 0.47. The stock has a market cap of $589.60, a P/E ratio of 8.73, a PEG ratio of 0.90 and a beta of 1.27. Genesco has a 1-year low of $20.90 and a 1-year high of $72.00.

Genesco (NYSE:GCO) last issued its quarterly earnings results on Thursday, August 31st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The firm had revenue of $616.50 million for the quarter, compared to analysts’ expectations of $626.93 million. Genesco had a return on equity of 7.36% and a net margin of 2.43%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. equities analysts forecast that Genesco will post 3.45 EPS for the current fiscal year.

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In related news, SVP Mimi Eckel Vaughn acquired 10,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were purchased at an average price of $24.16 per share, for a total transaction of $241,600.00. Following the acquisition, the senior vice president now owns 87,140 shares in the company, valued at $2,105,302.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Robert J. Dennis acquired 25,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were bought at an average price of $23.81 per share, for a total transaction of $595,250.00. Following the acquisition, the chairman now owns 224,935 shares in the company, valued at approximately $5,355,702.35. The disclosure for this purchase can be found here. 3.30% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in shares of Genesco by 26.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,347 shares of the company’s stock valued at $130,000 after purchasing an additional 487 shares during the period. State of Alaska Department of Revenue increased its holdings in Genesco by 77.8% in the second quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock worth $131,000 after buying an additional 1,703 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Genesco by 44.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock worth $142,000 after buying an additional 775 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Genesco in the second quarter worth approximately $144,000. Finally, Public Employees Retirement System of Ohio increased its holdings in Genesco by 16.9% in the second quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock worth $145,000 after buying an additional 618 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

About Genesco

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.

Analyst Recommendations for Genesco (NYSE:GCO)

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