Genesco Inc. (NYSE:GCO) has received an average rating of “Hold” from the six ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $42.50.

GCO has been the topic of several recent research reports. ValuEngine lowered Vereit from a “buy” rating to a “hold” rating in a research report on Friday. TheStreet lowered Weis Markets from a “b-” rating to a “c+” rating in a research report on Wednesday, June 5th. Zacks Investment Research upgraded Investar from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, June 4th. Finally, Pivotal Research restated a “hold” rating and issued a $45.00 price objective on shares of Genesco in a research report on Monday, June 3rd.

In other Genesco news, Director Thurgood Marshall, Jr. sold 1,690 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $44.57, for a total value of $75,323.30. Following the sale, the director now owns 9,724 shares in the company, valued at approximately $433,398.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in Genesco by 24.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,350 shares of the company’s stock valued at $60,000 after acquiring an additional 265 shares during the period. BlackRock Inc. raised its holdings in Genesco by 3.6% in the 4th quarter. BlackRock Inc. now owns 2,944,051 shares of the company’s stock valued at $130,421,000 after acquiring an additional 103,596 shares during the period. Texas Permanent School Fund raised its holdings in Genesco by 5.5% in the 4th quarter. Texas Permanent School Fund now owns 13,214 shares of the company’s stock valued at $585,000 after acquiring an additional 683 shares during the period. Northern Trust Corp raised its holdings in Genesco by 0.6% in the 4th quarter. Northern Trust Corp now owns 572,631 shares of the company’s stock valued at $25,368,000 after acquiring an additional 3,444 shares during the period. Finally, Great West Life Assurance Co. Can grew its position in shares of Genesco by 9.5% during the 4th quarter. Great West Life Assurance Co. Can now owns 27,272 shares of the company’s stock worth $1,114,000 after purchasing an additional 2,367 shares in the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

NYSE GCO traded down $0.13 during trading hours on Friday, reaching $39.98. The stock had a trading volume of 246,572 shares, compared to its average volume of 272,079. The company has a current ratio of 1.65, a quick ratio of 0.64 and a debt-to-equity ratio of 1.13. Genesco has a 52-week low of $37.51 and a 52-week high of $51.85. The company’s fifty day moving average is $43.33. The stock has a market cap of $661.03 million, a PE ratio of 12.19, a P/E/G ratio of 2.18 and a beta of 0.54.

Genesco (NYSE:GCO) last released its quarterly earnings data on Friday, May 31st. The company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.29. Genesco had a positive return on equity of 8.85% and a negative net margin of 1.70%. The business had revenue of $495.70 million for the quarter, compared to analyst estimates of $479.36 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that Genesco will post 3.66 earnings per share for the current fiscal year.

Genesco announced that its board has approved a stock buyback program on Friday, May 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Genesco Company Profile

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

Further Reading: Resistance Level

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