Zacks Investment Research upgraded shares of Genesco Inc. (NYSE:GCO) from a strong sell rating to a hold rating in a report released on Tuesday.
According to Zacks, “Genesco Inc., a Nashville-based specialty retailer, sells footwear, headwear and accessories in retail stores in the United States and Canada. The Company sells its products principally under the names Journeys, Journeys Kidz, Shi by Journeys, Johnston & Murphy, Underground Station, Hatworld, Lids, Hat Shack, Hat Zone, Head Quarters and Cap Connection, and on internet websites. The Company also sells footwear at wholesale under its Johnston & Murphy brand and under the licensed Dockers brand. “
Other equities research analysts have also issued reports about the company. ValuEngine upgraded Genesco from a hold rating to a buy rating in a research note on Monday, October 2nd. Piper Jaffray Companies reiterated a buy rating and set a $39.00 price objective on shares of Genesco in a research note on Sunday, October 1st. SunTrust Banks, Inc. set a $33.00 target price on Genesco and gave the stock a buy rating in a report on Monday, October 16th. Morgan Stanley lowered their target price on Genesco from $38.00 to $28.00 and set an equal weight rating on the stock in a report on Wednesday, September 13th. Finally, Jefferies Group LLC set a $48.00 target price on Genesco and gave the stock a hold rating in a report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $32.71.
Genesco (GCO) remained flat at $$25.00 during trading hours on Tuesday. The company had a trading volume of 294,500 shares, compared to its average volume of 395,435. Genesco has a 52-week low of $20.90 and a 52-week high of $72.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.47 and a current ratio of 2.38. The company has a market capitalization of $497.98, a PE ratio of 7.37, a price-to-earnings-growth ratio of 0.76 and a beta of 1.27.
Genesco (NYSE:GCO) last posted its quarterly earnings data on Thursday, August 31st. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.04). Genesco had a return on equity of 7.36% and a net margin of 2.43%. The firm had revenue of $616.50 million for the quarter, compared to analysts’ expectations of $626.93 million. During the same quarter last year, the firm posted $0.34 earnings per share. Genesco’s quarterly revenue was down 1.5% on a year-over-year basis. equities research analysts anticipate that Genesco will post 3.46 EPS for the current year.
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In other Genesco news, Chairman Robert J. Dennis acquired 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were purchased at an average cost of $23.81 per share, for a total transaction of $595,250.00. Following the completion of the acquisition, the chairman now owns 224,935 shares of the company’s stock, valued at approximately $5,355,702.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mimi Eckel Vaughn acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was acquired at an average price of $24.16 per share, for a total transaction of $241,600.00. Following the completion of the acquisition, the senior vice president now directly owns 87,140 shares of the company’s stock, valued at approximately $2,105,302.40. The disclosure for this purchase can be found here. Corporate insiders own 3.30% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Genesco by 45,756.3% in the first quarter. BlackRock Inc. now owns 2,482,203 shares of the company’s stock valued at $137,638,000 after acquiring an additional 2,476,790 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in Genesco by 9.4% in the second quarter. Eagle Asset Management Inc. now owns 2,064,808 shares of the company’s stock valued at $69,996,000 after acquiring an additional 177,335 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Genesco by 0.8% in the first quarter. Vanguard Group Inc. now owns 1,964,020 shares of the company’s stock valued at $108,905,000 after acquiring an additional 15,003 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Genesco by 0.4% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 909,846 shares of the company’s stock valued at $24,202,000 after acquiring an additional 3,578 shares during the last quarter. Finally, State Street Corp lifted its holdings in Genesco by 12.4% in the second quarter. State Street Corp now owns 648,235 shares of the company’s stock valued at $21,977,000 after acquiring an additional 71,541 shares during the last quarter. Hedge funds and other institutional investors own 94.65% 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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