Genesco Inc. (GCO) Hits New 1-Year High at $74.10
Shares of Genesco Inc. (NYSE:GCO) reached a new 52-week high on Friday . The stock traded as high as $74.10 and last traded at $72.98, with a volume of 70,264 shares changing hands. The stock had previously closed at $71.99.
Several analysts have weighed in on the company. Zacks Investment Research raised Genesco from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Morgan Stanley lowered Genesco from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $79.00 to $74.00 in a research note on Wednesday, July 20th. Jefferies Group reaffirmed a “hold” rating on shares of Genesco in a research note on Sunday, May 29th. B. Riley reaffirmed a “neutral” rating and set a $68.00 price objective on shares of Genesco in a research note on Saturday, May 28th. Finally, Piper Jaffray Cos. reaffirmed a “hold” rating and set a $62.00 price objective on shares of Genesco in a research note on Wednesday, June 15th. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $70.50.
The stock has a market cap of $1.53 billion and a P/E ratio of 17.26. The company has a 50-day moving average price of $68.02 and a 200-day moving average price of $66.74.
Genesco (NYSE:GCO) last posted its quarterly earnings data on Thursday, May 26th. The company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.22. The firm earned $649 million during the quarter, compared to the consensus estimate of $658.79 million. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. Analysts anticipate that Genesco Inc. will post $4.91 earnings per share for the current year.
In other news, CEO Robert J. Dennis sold 16,685 shares of the business’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $65.09, for a total value of $1,086,026.65. Following the sale, the chief executive officer now owns 168,601 shares of the company’s stock, valued at approximately $10,974,239.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mimi Eckel Vaughn sold 4,000 shares of the business’s stock in a transaction on Monday, June 20th. The stock was sold at an average price of $66.10, for a total value of $264,400.00. Following the completion of the sale, the chief financial officer now directly owns 59,506 shares in the company, valued at approximately $3,933,346.60. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Genesco stock. Dimensional Fund Advisors LP raised its position in shares of Genesco Inc. (NYSE:GCO) by 30.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,303,687 shares of the company’s stock after buying an additional 302,184 shares during the period. Dimensional Fund Advisors LP owned about 5.90% of Genesco worth $74,089,000 at the end of the most recent reporting period.
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. Its Journeys Group segment includes Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy and Underground by Journeys retail stores, catalog and e-commerce operations.
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