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.

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About Genesco

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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