Genesco Inc. (NYSE:GCO) Sets New 52-Week Low at $29.83
Genesco Inc. (NYSE:GCO) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $29.83 and last traded at $29.83, with a volume of 238,961 shares trading hands. The stock had previously closed at $32.05.
A number of research analysts have recently issued reports on GCO shares. Piper Jaffray Companies raised Genesco from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $63.00 to $62.00 in a research note on Thursday, April 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $38.00 price objective (down from $59.00) on shares of Genesco in a research note on Thursday, June 1st. Zacks Investment Research raised Genesco from a “sell” rating to a “hold” rating in a research note on Thursday, May 18th. Susquehanna Bancshares Inc raised Genesco from a “neutral” rating to a “positive” rating and set a $66.00 price objective on the stock in a research note on Wednesday, April 26th. Finally, B. Riley raised Genesco from a “neutral” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $48.29.
The firm has a market cap of $585.83 million, a P/E ratio of 6.72 and a beta of 1.26. The stock has a 50 day moving average of $33.80 and a 200-day moving average of $50.20.
Genesco (NYSE:GCO) last issued its quarterly earnings results on Thursday, May 25th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.28 by $0.22. The firm had revenue of $643.40 million for the quarter, compared to the consensus estimate of $644.15 million. Genesco had a net margin of 3.07% and a return on equity of 8.41%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 earnings per share. Equities analysts predict that Genesco Inc. will post $3.89 EPS for the current fiscal year.
In related news, Director Kevin Patrick Mcdermott bought 1,000 shares of the company’s stock in a transaction on Thursday, July 6th. The shares were acquired at an average cost of $32.32 per share, for a total transaction of $32,320.00. Following the purchase, the director now directly owns 8,657 shares of the company’s stock, valued at $279,794.24. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 3.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of GCO. Quantbot Technologies LP bought a new position in shares of Genesco during the first quarter worth approximately $105,000. Envestnet Asset Management Inc. increased its position in shares of Genesco by 34.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,860 shares of the company’s stock worth $116,000 after buying an additional 475 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Genesco by 77.8% in the second quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock worth $131,000 after buying an additional 1,703 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Genesco by 44.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock worth $142,000 after buying an additional 775 shares in the last quarter. Finally, First Quadrant L P CA bought a new position in shares of Genesco during the second quarter worth approximately $153,000.
ILLEGAL ACTIVITY NOTICE: “Genesco Inc. (NYSE:GCO) Sets New 52-Week Low at $29.83” was published by Daily Political and is owned by of Daily Political. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark law. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/07/24/genesco-inc-nysegco-sets-new-52-week-low-at-29-83.html.
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.
Receive News & Ratings for Genesco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.