Genesco Inc (GCO) Receives a Hold from Pivotal Research

Pivotal Research analyst Mitch Kummetz reiterated a Hold rating on Genesco Inc (GCOResearch Report) today and set a price target of $40. The company’s shares closed last Monday at $35.68.

Kummetz commented:

“We are modeling 2Q SSS at the high end of GCO’s range and modest upside seems likely. That said, we’re also anticipating sequential deceleration of the company’s Journeys comp, partly due to a tougher comparison than 1Q. We also suspect that some of Journeys’ key brands are not growing as fast as they had been. Moreover, if the growth of these brands were to continue to slow, Journeys’ comp could continue to decelerate in 3Q.”

According to, Kummetz is a 3-star analyst with an average return of 3.7% and a 55.9% 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 $41.

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Based on Genesco Inc’s latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of $6.35 million. In comparison, last year the company had a GAAP net loss of $15K.

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.

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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, Johnston & Murphy Group, Lids Sports Group, and Licensed Brands.