Shares of Genesco Inc. (NYSE:GCO) have been given a consensus recommendation of “Hold” by the twelve brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $32.71.
Several research analysts have issued reports on GCO shares. BidaskClub raised Genesco from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Morgan Stanley reduced their price objective on Genesco from $38.00 to $28.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 13th. SunTrust Banks, Inc. set a $33.00 price objective on Genesco and gave the stock a “buy” rating in a report on Monday, October 16th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $29.00 price objective (down previously from $43.00) on shares of Genesco in a report on Monday, August 28th. Finally, Buckingham Research reduced their price objective on Genesco from $38.00 to $23.00 and set a “neutral” rating on the stock in a report on Friday, September 1st.
In related news, Chairman Robert J. Dennis purchased 25,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were bought at an average price of $23.81 per share, with a total value of $595,250.00. Following the purchase, the chairman now directly owns 224,935 shares in the company, valued at approximately $5,355,702.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mimi Eckel Vaughn purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was bought at an average cost of $24.16 per share, for a total transaction of $241,600.00. Following the purchase, the senior vice president now owns 87,140 shares in the company, valued at $2,105,302.40. The disclosure for this purchase can be found here. Corporate insiders own 3.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its stake 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 valued at $130,000 after purchasing an additional 487 shares during the period. State of Alaska Department of Revenue lifted its stake 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 valued at $131,000 after purchasing an additional 1,703 shares during the period. PNC Financial Services Group Inc. lifted its stake 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 valued at $142,000 after purchasing an additional 775 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Genesco in the 2nd quarter valued at $144,000. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Genesco by 16.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock valued at $145,000 after purchasing an additional 618 shares during the period. 94.27% of the stock is currently owned by institutional investors.
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Shares of Genesco (NYSE:GCO) traded down 3.93% during trading on Friday, hitting $24.45. The stock had a trading volume of 440,615 shares. The stock’s 50 day moving average is $25.50 and its 200 day moving average is $34.19. The stock has a market capitalization of $487.02 million, a price-to-earnings ratio of 6.86 and a beta of 1.35. Genesco has a 52 week low of $20.90 and a 52 week high of $72.00.
Genesco (NYSE:GCO) last announced its 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). Genesco had a return on equity of 7.36% and a net margin of 2.43%. The business had revenue of $616.50 million during the quarter, compared to analyst estimates of $626.93 million. During the same period in the previous year, the firm earned $0.34 earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts expect that Genesco will post $3.38 earnings per share for the current fiscal year.
Genesco Company Profile
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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