Genesco still good value
Posted on March 8, 2010 at 9:22 amThe Street has hiked its earnings estimates for Genesco by 8 percent in less than two months and the retailer’s shares (Ticker: GCO) are up 30 percent in three weeks, but Bill Wilton at Zacks says investors should still take a look.
SEE ALSO: Women’s Wear Daily’s take on the company’s strong Q4 as well as some info on its first Canadian stores.
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Analyst action: LifePoint, Genesco, Tractor Supply
Posted on March 2, 2010 at 8:47 amA trio of Morgan Stanley analysts are cautious about the hospital sector but like LifePoint’s negotiating power and ability to buy hospitals and its own shares. They’ve reiterated their ‘overweight’ rating on LifePoint shares (Ticker: LPNT), which rose 2.7 percent Monday.
There’s a similar sentiment at Susquehanna about Genesco: Christopher Svezia, Christina Cheng and Tom Haggerty say the retailer’s shares (Ticker: GCO) have been unfairly discounted and that they expect CEO Rob Dennis and his team to boost operating margins. Genesco jumped almost 7 percent yesterday.
At Piper Jaffray, analyst Mitch Kaiser has upgraded Tractor Supply to ‘neutral’ from ‘overweight’ and hiked his price target to $55 from $46. The main reason: “Improved moisture conditions.” Tractor Supply shares (Ticker: TSCO) added almost 5 percent Monday.
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Dennis named Genesco chairman
Posted on February 25, 2010 at 8:43 am
Genesco President and CEO Bob Dennis will also assume the chairman’s title on April 1, succeeding Hal Pennington. Dennis, a former Hat World executive, was named to Genesco’s corner office in the summer of 2008.
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Big Genesco owner adds to stake
Posted on January 27, 2010 at 9:58 amFlorida-based Eagle Asset Management bought almost 149,000 shares of Genesco in the fourth quarter, raising its stake to a shade under 10 percent. A year ago, Eagle owned 14 percent but booked some nice gains when Genesco (Ticker: GCO) rallied from $12 to $25 last spring.
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A few days earlier would have been more helpful
Posted on January 19, 2010 at 9:03 amI regularly pass on technical signs on local stocks from the folks at SmarTrend — and I guess I am now, too — but I don’t know if this bearish one on Genesco has a lot of use after four days of trading wiped out three weeks’ worth of gains.
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Analyst: Buy Genesco on dip
Posted on at 8:00 amAvondale Partners’ David Turner says that, despite reporting quarter-to-date sales that were not well received, the mid- to long-term thesis at Genesco remains intact. He has lowered his estimates by about 2 percent, but retained his ‘market outperform’ rating and $29 price target on the shares. (Ticker: GCO)
Weakish top-line trends at Journeys undoubtedly mar visibility, but the softness appears relegated to one category and inventory levels are clean which should minimize further risk to EPS. Also, multiple cost items continue to subtly move in favor of the company and should become more meaningful going forward.
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Genesco right on track
Posted on January 12, 2010 at 8:19 amShoe and hat retailer Genesco said same-store sales are up 1 percent in its fourth fiscal quarter to date, helped by a 7 percent gain at its Hat World division. That puts the Nashville-based company (Ticker: GCO) right on track to post earnings in its previously announced range. Analysts are looking for $1.12.
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Genesco an Avondale best idea
Posted on December 14, 2009 at 8:08 am
Helped by their cost-cutting efforts and the demise of several prominent names, many retailers head into 2010 poised to capitalize on “an extremely powerful earnings power environment” once the consumer returns for real, says Avondale analyst David Turner. One of his two top recommendations for the coming year is Genesco, whose shares (Ticker: GCO) have lost some momentum after the company’s Q3 report. Says Turner, “We would be buyers at this level.”
SEE ALSO: The Motley Fool community of investors agrees.
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Avondale: Genesco cream of the footwear crop
Posted on November 16, 2009 at 8:22 am
David Turner at Avondale Partners has conducted the channel checks and says athletic clothing sales are lagging big time. But the so-called “black/brown/casual” sector showed third-quarter growth of more than 4 percent, which plays right into the hands of Nashville-based Genesco, Turner’s only outperform-rated stock (Ticker: GCO).
Our street-high Q3′10 (current quarter) EPS estimate of $0.46 is now visible, in our opinion, as is Q4, the company’s highest volume quarter. If our secular thesis is to be believed, more upside remains to GCO’s earnings.
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Go, Genesco, go
Posted on November 6, 2009 at 11:56 am
Robert W. Baird analyst Mitch Kummetz has raised his rating on the Nashville retailer to ‘outperform.’ Kummetz, who two months ago was quite sober about the company’s prospects, also has lifted his price target to $34 from $25. On a lackluster day for the market, Genesco shares (Ticker: GCO) are up more than 3 percent.
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Another heady buy for Genesco
Posted on November 4, 2009 at 7:40 am
The Nashville-based retailer has acquired Sports Fan-Attic, a chain of 37 stores in seven states, adding another headwear brand to an arsenal it’s been building up since 2004. The companies aren’t disclosing the deal’s price just yet, but if Sports Fan-Attic’s valuation is in line with Genesco’s deals for Hat World and Hat Shack, it was worth about $13 million to Genesco, whose shares (Ticker: GCO) fell almost 2 percent after hours Tuesday.
“We see great long-term potential for growing the Sports Fan-Attic store base, and look forward to bringing Genesco’s collective strength in the mall real estate market and our experience in managing new store growth to that process.”
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Genesco in stock-for-debt swap
Posted on November 3, 2009 at 8:10 amNashville-based retailer Genesco will convert almost $30 million of bonds into common shares over the course of the next month. When that’s done, the company (Ticker: GCO) will have less than $25 million of long-term debt on its books. (Search for ‘Note 7.’)
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Genesco gets upgrade
Posted on September 24, 2009 at 10:55 am
Susquehanna analysts have upgraded shares of Nashville-based Genesco to ‘positive’ from ‘neutral,’ saying the company’s sales appear to be improving and that its lower rent costs give it ‘a certain margin of error‘ heading into the crucial holiday season. Genesco (Ticker: GCO) is up 2.5 percent this morning, bucking the broader market’s losses.
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Another ‘buy’ rating for Genesco
Posted on September 18, 2009 at 7:33 am
Analysts at SunTrust Robinson Humphrey say shares of the Nashville-based shoe and hat retailer can rally to $28 in the coming months, about 20 percent above where they are now. Genesco (Ticker: GCO) is up almost 40 percent this year.
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Genesco isn’t skating by
Posted on September 2, 2009 at 9:17 amRobert W. Baird analyst Mitch Kummetz says Genesco is performing well, but that the economy won’t allow it to post earnings growth in the current quarter. Shares of the Nashville-based retailer (Ticker: GCO) are up 23 percent this year.
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