Genesco (NYSE:GCO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Genesco Inc., a Nashville-based specialty retailer, sells footwear, headwear and accessories in retail stores in the United States and Canada. The Company sells its products principally under the names Journeys, Journeys Kidz, Shi by Journeys, Johnston & Murphy, Underground Station, Hatworld, Lids, Hat Shack, Hat Zone, Head Quarters and Cap Connection, and on internet websites. The Company also sells footwear at wholesale under its Johnston & Murphy brand and under the licensed Dockers brand. “
A number of other brokerages also recently commented on GCO. ValuEngine downgraded shares of Genesco from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Pivotal Research set a $46.00 price objective on shares of Genesco and gave the company a “buy” rating in a research report on Wednesday, March 14th. Jefferies Group set a $45.00 price objective on shares of Genesco and gave the company a “buy” rating in a research report on Monday, February 26th. SunTrust Banks set a $44.00 price objective on shares of Genesco and gave the company a “buy” rating in a research report on Thursday, March 15th. Finally, Piper Jaffray Companies set a $44.00 price objective on shares of Genesco and gave the company a “buy” rating in a research report on Thursday, March 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $40.00.
Genesco stock opened at $39.55 on Monday. The company has a quick ratio of 0.60, a current ratio of 2.70 and a debt-to-equity ratio of 0.10. Genesco has a fifty-two week low of $20.90 and a fifty-two week high of $58.35. The firm has a market cap of $793.54, a PE ratio of -6.80, a price-to-earnings-growth ratio of 1.24 and a beta of 1.11.
Genesco (NYSE:GCO) last announced its earnings results on Thursday, March 15th. The company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.06. Genesco had a negative net margin of 3.85% and a positive return on equity of 7.07%. The firm had revenue of $930.00 million for the quarter, compared to the consensus estimate of $902.00 million. During the same period in the prior year, the firm earned $2.15 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. equities research analysts predict that Genesco will post 3.38 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of GCO. Public Employees Retirement System of Ohio boosted its holdings in shares of Genesco by 46.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,249 shares of the company’s stock valued at $166,000 after buying an additional 1,971 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Genesco during the 4th quarter worth $216,000. Pinnacle Financial Partners Inc. acquired a new stake in Genesco during the 3rd quarter worth $226,000. Crossmark Global Holdings Inc. acquired a new stake in Genesco during the 3rd quarter worth $240,000. Finally, Wolverine Trading LLC boosted its stake in Genesco by 113.1% during the 4th quarter. Wolverine Trading LLC now owns 7,883 shares of the company’s stock worth $256,000 after purchasing an additional 4,183 shares during the period. Institutional investors and hedge funds own 99.24% of the company’s stock.
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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.
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