Genesco (NYSE:GCO) Stock Price Up 8.5%

Genesco Inc. (NYSE:GCO) shares rose 8.5% during mid-day trading on Wednesday . The stock traded as high as $13.97 and last traded at $15.03, approximately 22,141 shares traded hands during trading. A decline of 97% from the average daily volume of 667,069 shares. The stock had previously closed at $13.85.

GCO has been the topic of several research reports. Robert W. Baird decreased their target price on Genesco from $52.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. TheStreet lowered Genesco from a “b-” rating to a “c+” rating in a research note on Tuesday, March 3rd. Pivotal Research decreased their target price on Genesco from $57.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. ValuEngine raised Genesco from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Susquehanna Bancshares reaffirmed a “buy” rating and issued a $58.00 price target on shares of Genesco in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $39.20.

The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.39 and a current ratio of 1.40. The company has a market cap of $203.60 million, a price-to-earnings ratio of 3.49, a price-to-earnings-growth ratio of 0.56 and a beta of 0.65. The business has a 50-day simple moving average of $29.75 and a 200-day simple moving average of $38.90.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Thursday, March 12th. The company reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.35. Genesco had a return on equity of 11.78% and a net margin of 2.79%. The company had revenue of $677.60 million for the quarter, compared to analyst estimates of $679.70 million. During the same quarter last year, the company earned $2.18 EPS. Genesco’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts anticipate that Genesco Inc. will post 4.98 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in GCO. Ladenburg Thalmann Financial Services Inc. grew its stake in Genesco by 906.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,077 shares of the company’s stock worth $51,000 after buying an additional 970 shares during the last quarter. Advisors Preferred LLC purchased a new position in Genesco during the 4th quarter worth approximately $70,000. Aigen Investment Management LP purchased a new position in Genesco during the 4th quarter worth approximately $161,000. Pinnacle Financial Partners Inc. purchased a new position in Genesco during the 4th quarter worth approximately $216,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Genesco in the 4th quarter valued at approximately $232,000.

About Genesco (NYSE:GCO)

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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