Pivotal Research analyst Mitch Kummetz reiterated a Hold rating on Genesco Inc (GCO) today and set a price target of $51. The company’s shares closed on Friday at $44.76.
Kummetz commented:
“We suspect that 1Q20 is off to a slow start at Journeys, mainly due to unfavorable weather, but there’s still time in the quarter to make up lost ground, especially against what we believe wasn’t ideal weather last March. The company’s 2Q/3Q SSS guidance will be most interesting, as these are its toughest Journeys comparisons of the year. We suspect that GCO’s SSS outlook may prove to be a little disappointing, but its EPS guidance could be the opposite, the combination of Lids accretion and lower planned incentive comp.”
According to TipRanks.com, Kummetz is a 4-star analyst with an average return of 4.9% and a 62.5% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Tilly’s Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Genesco Inc with a $49.33 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $51.85 and a one-year low of $36.61. Currently, Genesco Inc has an average volume of 327.4K.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock.
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, Lids Sports Group, Johnston & Murphy Group, and Licensed Brands.
