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Genesco Inc. (NYSE:GCO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Genesco Inc. (NYSE:GCOGet Rating) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the company, reports. One analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $69.50.

Separately, TheStreet lowered shares of Genesco from a “b” rating to a “c+” rating in a research report on Thursday, May 26th.

Genesco Stock Up 0.2 %

Shares of NYSE:GCO opened at $58.85 on Friday. The company has a 50-day moving average price of $54.95 and a 200 day moving average price of $61.06. Genesco has a 12 month low of $48.54 and a 12 month high of $73.72. The company has a market cap of $807.95 million, a price-to-earnings ratio of 7.56 and a beta of 1.87. The company has a current ratio of 1.56, a quick ratio of 0.70 and a debt-to-equity ratio of 0.02.

Genesco (NYSE:GCOGet Rating) last announced its quarterly earnings results on Thursday, May 26th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.53. Genesco had a return on equity of 17.62% and a net margin of 4.61%. The firm had revenue of $520.80 million for the quarter, compared to analyst estimates of $521.05 million. During the same quarter last year, the firm posted $0.79 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, equities research analysts predict that Genesco will post 7.41 earnings per share for the current year.

Institutional Investors Weigh In On Genesco

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Several institutional investors have recently made changes to their positions in GCO. Landscape Capital Management L.L.C. acquired a new stake in Genesco during the 2nd quarter valued at $1,074,000. First Horizon Advisors Inc. purchased a new position in Genesco in the 2nd quarter valued at about $49,000. Versor Investments LP acquired a new stake in Genesco in the second quarter valued at $692,000. Assenagon Asset Management S.A. acquired a new stake in shares of Genesco during the 2nd quarter valued at approximately $313,000. Finally, KBC Group NV acquired a new stake in shares of Genesco during the 2nd quarter worth approximately $59,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

About Genesco

(Get Rating)

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

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