Genesco Inc. (GCO) Hits New 1-Year High at $74.10
Shares of Genesco Inc. (NYSE:GCO) hit a new 52-week high during trading 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.
GCO has been the topic of several analyst reports. Zacks Investment Research cut Genesco from a “buy” rating to a “hold” rating in a report on Monday, July 18th. B. Riley reiterated a “neutral” rating and issued a $68.00 target price on shares of Genesco in a report on Monday, May 23rd. Piper Jaffray Cos. cut Genesco from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $70.00 to $61.00 in a report on Tuesday, May 24th. Morgan Stanley cut Genesco from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $79.00 to $74.00 in a report on Wednesday, July 20th. Finally, Robert W. Baird upgraded Genesco from a “neutral” rating to an “outperform” rating and upped their target price for the company from $68.00 to $80.00 in a report on Thursday, May 26th. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Genesco has a consensus rating of “Hold” and a consensus target price of $70.50.
The stock has a market cap of $1.53 billion and a P/E ratio of 17.36. The firm has a 50-day moving average price of $67.75 and a 200 day moving average price of $66.68.
Genesco (NYSE:GCO) last announced its quarterly earnings results 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 company earned $649 million during the quarter, compared to analysts’ expectations of $658.79 million. During the same period last year, the firm earned $0.51 earnings per share. Genesco’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities research analysts predict that Genesco Inc. will post $4.91 EPS for the current fiscal year.
In other Genesco news, CEO Robert J. Dennis sold 16,685 shares of Genesco stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 168,601 shares of the company’s stock, valued at approximately $10,974,239.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mimi Eckel Vaughn sold 4,000 shares of Genesco stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 59,506 shares in the company, valued at $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 increased its position in Genesco Inc. (NYSE:GCO) by 30.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.