Jefferies Group LLC reiterated their hold rating on shares of Genesco Inc. (NYSE:GCO) in a report issued on Thursday, August 31st. Jefferies Group LLC currently has a $27.00 price objective on the stock.
Several other analysts have also recently issued reports on the stock. B. Riley restated a buy rating and set a $50.00 target price on shares of Genesco in a research report on Saturday, May 27th. Piper Jaffray Companies set a $39.00 target price on shares of Genesco and gave the company a buy rating in a research report on Saturday, June 24th. Susquehanna Bancshares Inc restated a positive rating and set a $43.00 target price (down from $66.00) on shares of Genesco in a research report on Tuesday, May 30th. ValuEngine cut shares of Genesco from a buy rating to a hold rating in a research report on Friday, June 2nd. 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 given a buy rating to the company’s stock. Genesco presently has an average rating of Hold and an average price target of $37.57.
Genesco (NYSE GCO) opened at 26.25 on Thursday. The stock’s 50 day moving average price is $26.94 and its 200-day moving average price is $40.80. The company has a market capitalization of $522.87 million, a PE ratio of 7.37 and a beta of 1.29. Genesco has a 52 week low of $20.90 and a 52 week high of $72.00.
Genesco (NYSE:GCO) last announced its quarterly earnings results on Thursday, August 31st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The company had revenue of $616.50 million during the quarter, compared to analysts’ expectations of $626.93 million. Genesco had a return on equity of 7.36% and a net margin of 2.43%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. On average, equities research analysts predict that Genesco will post $3.38 earnings per share for the current fiscal year.
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In other news, Chairman Robert J. Dennis acquired 25,000 shares of Genesco stock in a transaction that occurred on Wednesday, September 6th. The shares were bought at an average cost of $23.81 per share, with a total value of $595,250.00. Following the transaction, the chairman now directly owns 224,935 shares of the company’s stock, valued at approximately $5,355,702.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mimi Eckel Vaughn acquired 10,000 shares of Genesco stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average cost of $24.16 per share, for a total transaction of $241,600.00. Following the completion of the transaction, the senior vice president now directly owns 87,140 shares in the company, valued at $2,105,302.40. The disclosure for this purchase can be found here. Insiders purchased a total of 36,000 shares of company stock worth $869,170 over the last three months. 3.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its stake in Genesco by 16.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock worth $145,000 after acquiring an additional 618 shares in the last quarter. Verition Fund Management LLC grew its stake in Genesco by 391.7% in the 2nd quarter. Verition Fund Management LLC now owns 18,683 shares of the company’s stock worth $633,000 after acquiring an additional 14,883 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in Genesco in the 2nd quarter worth about $144,000. Arrowstreet Capital Limited Partnership grew its stake in Genesco by 3.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 99,299 shares of the company’s stock worth $3,366,000 after acquiring an additional 3,199 shares in the last quarter. Finally, State Street Corp grew its stake in Genesco by 12.4% in the 2nd quarter. State Street Corp now owns 648,235 shares of the company’s stock worth $21,977,000 after acquiring an additional 71,541 shares in the last quarter. Institutional investors and hedge funds 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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