Genesco (GCO) Stock Rating Reaffirmed by Susquehanna Bancshares

Genesco (NYSE:GCO)‘s stock had its “hold” rating restated by equities researchers at Susquehanna Bancshares in a research note issued on Tuesday. They presently have a $31.00 price objective on the stock. Susquehanna Bancshares’ price target suggests a potential downside of 12.18% from the company’s current price.

GCO has been the subject of several other reports. Zacks Investment Research raised Genesco from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 14th. SunTrust Banks set a $33.00 price objective on Genesco and gave the company a “buy” rating in a report on Monday, October 16th. Buckingham Research lifted their price objective on Genesco from $23.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, November 20th. ValuEngine raised Genesco from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Genesco in a report on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $34.38.

Genesco (GCO) traded up $0.20 on Tuesday, reaching $35.30. The company had a trading volume of 489,600 shares, compared to its average volume of 660,878. The company has a market cap of $702.94, a P/E ratio of -5.58, a PEG ratio of 1.21 and a beta of 1.37. Genesco has a twelve month low of $20.90 and a twelve month high of $65.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.31 and a quick ratio of 0.47.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Friday, December 1st. The company reported $1.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.10). The company had revenue of $716.80 million during the quarter, compared to analyst estimates of $706.58 million. Genesco had a negative net margin of 4.24% and a positive return on equity of 6.93%. Genesco’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 earnings per share. sell-side analysts predict that Genesco will post 3.07 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new position in shares of Genesco during the 2nd quarter worth $144,000. Public Employees Retirement System of Ohio increased its holdings in Genesco by 16.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock worth $145,000 after purchasing an additional 618 shares in the last quarter. Pinnacle Financial Partners Inc. acquired a new position in Genesco in the 3rd quarter worth about $226,000. Crossmark Global Holdings Inc. acquired a new position in Genesco in the 3rd quarter worth about $240,000. Finally, Municipal Employees Retirement System of Michigan grew its position in shares of Genesco by 32.6% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,780 shares of the company’s stock valued at $287,000 after buying an additional 2,650 shares during the last quarter. 97.65% of the stock is owned by institutional investors.

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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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