Genesco (GCO) Given a $40.00 Price Target at Piper Jaffray Companies

Genesco (NYSE:GCO) received a $40.00 price objective from Piper Jaffray Companies in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the stock. Piper Jaffray Companies’ price target points to a potential upside of 4.30% from the company’s previous close.

Other analysts have also issued research reports about the company. Susquehanna Bancshares restated a “hold” rating and set a $31.00 target price on shares of Genesco in a report on Tuesday, January 16th. Zacks Investment Research upgraded Genesco from a “strong sell” rating to a “hold” rating in a report on Thursday, January 4th. ValuEngine lowered Genesco from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Robert W. Baird restated a “hold” rating and set a $35.00 target price on shares of Genesco in a report on Wednesday, January 3rd. Finally, SunTrust Banks upped their target price on Genesco to $39.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $37.90.

Shares of Genesco (NYSE GCO) traded up $3.95 during midday trading on Wednesday, hitting $38.35. The company had a trading volume of 424,986 shares, compared to its average volume of 436,882. The company has a quick ratio of 0.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $692.98, a price-to-earnings ratio of -6.03, a price-to-earnings-growth ratio of 1.13 and a beta of 1.32. Genesco has a 12-month low of $20.90 and a 12-month high of $63.50.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its holdings in shares of Genesco by 16.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock valued at $145,000 after purchasing an additional 618 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Genesco during the 4th quarter valued at $216,000. Pinnacle Financial Partners Inc. purchased a new stake in shares of Genesco during the 3rd quarter valued at $226,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Genesco during the 3rd quarter valued at $240,000. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Genesco by 32.6% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,780 shares of the company’s stock valued at $287,000 after purchasing an additional 2,650 shares during the last quarter. Hedge funds and other institutional investors own 98.38% of the company’s stock.

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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.

Analyst Recommendations for Genesco (NYSE:GCO)

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