Genesco Inc. (NYSE:GCO) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday.
Several other research firms also recently commented on GCO. B. Riley reiterated a “buy” rating and set a $50.00 target price on shares of Genesco in a research report on Saturday, May 27th. Buckingham Research cut their target price on shares of Genesco from $38.00 to $23.00 and set a “neutral” rating on the stock in a research report on Friday. Jefferies Group LLC set a $48.00 target price on shares of Genesco and gave the stock a “hold” rating in a research report on Saturday, August 19th. Piper Jaffray Companies set a $39.00 target price on shares of Genesco and gave the stock a “buy” rating in a research report on Saturday, June 24th. Finally, BidaskClub upgraded shares of Genesco from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $39.00.
Genesco (GCO) traded up 9.69% during midday trading on Friday, hitting $23.20. 1,232,522 shares of the company were exchanged. The firm’s 50-day moving average price is $28.83 and its 200-day moving average price is $43.10. The stock has a market capitalization of $454.58 million, a PE ratio of 6.67 and a beta of 1.30. Genesco has a one year low of $20.90 and a one year high of $72.00.
Genesco (NYSE:GCO) last posted its quarterly earnings results on Thursday, August 31st. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.04. Genesco had a net margin of 2.43% and a return on equity of 7.36%. The company had revenue of $616.50 million during the quarter, compared to analyst estimates of $626.93 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts anticipate that Genesco will post $3.61 earnings per share for the current year.
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In other news, Director Kevin Patrick Mcdermott purchased 1,000 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were purchased at an average price of $32.32 per share, for a total transaction of $32,320.00. Following the transaction, the director now owns 8,657 shares of the company’s stock, valued at $279,794.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of GCO. Quantbot Technologies LP acquired a new position in shares of Genesco in the 1st quarter worth approximately $105,000. Envestnet Asset Management Inc. lifted its position in shares of Genesco by 26.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,347 shares of the company’s stock worth $130,000 after purchasing an additional 487 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Genesco by 77.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock worth $131,000 after purchasing an additional 1,703 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Genesco by 44.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock worth $142,000 after purchasing an additional 775 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Genesco in the 2nd quarter worth approximately $144,000. Hedge funds and other institutional investors own 95.93% of the company’s stock.
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.
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