Genesco (GCO) Receives a Buy from Pivotal Research

By Austin Angelo

In a report released today, Mitch Kummetz from Pivotal Research reiterated a Buy rating on Genesco (GCOResearch Report), with a price target of $57.00. The company’s shares closed last Monday at $44.75.

According to TipRanks.com, Kummetz is a 4-star analyst with an average return of 10.2% and a 68.0% success rate. Kummetz covers the Services sector, focusing on stocks such as Shoe Carnival, Foot Locker, and Boot Barn.

Currently, the analyst consensus on Genesco is a Moderate Buy with an average price target of $56.50.

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Based on Genesco’s latest earnings release for the quarter ending October 31, the company reported a quarterly net profit of $18.9 million. In comparison, last year the company had a net profit of $14.39 million.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GCO in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Genesco, Inc. engages in the retail and sale of footwear, apparel, and accessories. It operates through the following segments: Journeys Group, Schuh Group, Johnston & Murphy Group, Lids Sports Group, and Licensed Brands.