Genesco (NYSE:GCO) Lifted to Buy at Pivotal Research
Pivotal Research upgraded shares of Genesco (NYSE:GCO) from a hold rating to a buy rating in a report released on Monday morning, BenzingaRatingsTable reports. The brokerage currently has $48.00 price objective on the stock, up from their previous price objective of $40.00.
Several other equities research analysts have also recently commented on the stock. TheStreet cut shares of Genesco from a b rating to a c+ rating in a research report on Wednesday, June 5th. ValuEngine cut shares of Genesco from a hold rating to a sell rating in a research report on Friday, July 19th. Zacks Investment Research cut shares of Genesco from a strong-buy rating to a hold rating in a research report on Wednesday, July 31st. Finally, Susquehanna Bancshares set a $48.00 price target on shares of Genesco and gave the stock a buy rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $46.00.
Shares of Genesco stock opened at $43.17 on Monday. The company has a current ratio of 1.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.25. The company’s 50-day moving average price is $36.45 and its two-hundred day moving average price is $42.12. Genesco has a 52 week low of $31.65 and a 52 week high of $50.73. The stock has a market cap of $713.77 million, a PE ratio of 13.16, a price-to-earnings-growth ratio of 2.04 and a beta of 0.53.
In other Genesco news, Director Thurgood Marshall, Jr. sold 1,690 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $44.57, for a total transaction 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 filing with the SEC, which is available through this link. Also, VP Mario Gallione sold 2,049 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $40.31, for a total value of $82,595.19. Following the sale, the vice president now owns 36,309 shares in the company, valued at approximately $1,463,615.79. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale acquired a new position in shares of Genesco in the 2nd quarter valued at about $112,000. Panagora Asset Management Inc. bought a new stake in shares of Genesco in the 2nd quarter valued at approximately $126,000. Quantamental Technologies LLC bought a new stake in shares of Genesco in the 2nd quarter valued at approximately $128,000. NumerixS Investment Technologies Inc grew its stake in shares of Genesco by 500.0% in the 1st quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the company’s stock valued at $164,000 after buying an additional 3,000 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in shares of Genesco in the 2nd quarter valued at approximately $204,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.
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.
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