Pivotal Research Reiterates Their Buy Rating on Genesco Inc (GCO)

Pivotal Research analyst Mitch Kummetz reiterated a Buy rating on Genesco Inc (GCO) today and set a price target of $52. The company’s shares closed on Friday at $41.76.

Kummetz said:

“We believe that all three of these boxes either have been or are being checked, and, as such, we’re modeling 3Q and FY19 above consensus and the midpoint of GCO’s guidance. However, we’re also a little concerned that Vans has slowed since GCO last reported, which is why we’re not modeling FY19 at the high end of the company’s range.”

According to TipRanks.com, Kummetz is a 3-star analyst with an average return of 3.9% and a 57.0% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Tilly’s Inc.

Genesco Inc has an analyst consensus of Moderate Buy, with a price target consensus of $44.

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Based on Genesco Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $15K. In comparison, last year the company had a GAAP net loss of $165 million.

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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.