Genesco Inc. (NYSE:GCO) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation. The average 12 month price objective among analysts that have covered the stock in the last year is $42.60.

Several equities analysts recently weighed in on GCO shares. Piper Jaffray Companies set a $41.00 price target on Genesco and gave the company a “hold” rating in a research note on Friday, November 30th. Zacks Investment Research upgraded shares of Genesco from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Wednesday, February 20th. TheStreet upgraded shares of Genesco from a “c+” rating to a “b” rating in a research report on Tuesday, January 8th. ValuEngine upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. Finally, Pivotal Research restated a “buy” rating and issued a $52.00 price objective on shares of Genesco in a research report on Monday, December 3rd.

Shares of GCO stock traded up $0.72 on Monday, hitting $42.62. The company had a trading volume of 5,286 shares, compared to its average volume of 326,356. The stock has a market cap of $867.29 million, a PE ratio of 13.56, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72. The company has a quick ratio of 0.48, a current ratio of 2.26 and a debt-to-equity ratio of 0.09. Genesco has a twelve month low of $36.60 and a twelve month high of $51.85.

Genesco (NYSE:GCO) last issued its quarterly earnings data on Thursday, March 14th. The company reported $2.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.30 by ($0.12). The company had revenue of $675.50 million during the quarter, compared to analyst estimates of $914.85 million. Genesco had a net margin of 2.31% and a return on equity of 7.21%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $2.15 EPS. Sell-side analysts anticipate that Genesco will post 3.27 earnings per share for the current fiscal year.

Genesco announced that its board has initiated a share buyback plan on Friday, December 14th that authorizes the company to buyback $125.00 million in shares. This buyback authorization authorizes the company to repurchase up to 14.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

In other news, CEO Robert J. Dennis sold 11,380 shares of the firm’s stock in a transaction that occurred on Wednesday, January 23rd. The shares were sold at an average price of $47.14, for a total transaction of $536,453.20. Following the completion of the transaction, the chief executive officer now directly owns 261,361 shares of the company’s stock, valued at approximately $12,320,557.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Marty G. Dickens sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $49.50, for a total transaction of $247,500.00. Following the transaction, the director now directly owns 18,578 shares of the company’s stock, valued at $919,611. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,880 shares of company stock valued at $807,953. Insiders own 4.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in Genesco in the 4th quarter worth about $15,601,000. Canada Pension Plan Investment Board increased its holdings in Genesco by 99.7% during the fourth quarter. Canada Pension Plan Investment Board now owns 595,200 shares of the company’s stock worth $26,365,000 after buying an additional 297,144 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Genesco during the fourth quarter worth $11,625,000. Morgan Stanley increased its holdings in Genesco by 128.6% during the third quarter. Morgan Stanley now owns 314,676 shares of the company’s stock worth $14,821,000 after buying an additional 177,047 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in Genesco by 40.1% during the fourth quarter. Prudential Financial Inc. now owns 553,889 shares of the company’s stock worth $24,537,000 after buying an additional 158,448 shares during the last quarter.

Genesco Company Profile

Genesco Inc retails and wholesales footwear, apparel, and accessories. The company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, Shi by Journeys, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

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Analyst Recommendations for Genesco (NYSE:GCO)

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