Genesco Inc. (GCO) Given “Hold” Rating at Jefferies Group LLC
A number of other equities research analysts also recently weighed in on GCO. Piper Jaffray Companies set a $39.00 price target on Genesco and gave the company a buy rating in a report on Saturday, June 24th. ValuEngine upgraded Genesco from a hold rating to a buy rating in a research report on Thursday, July 13th. BidaskClub lowered Genesco from a sell rating to a strong sell rating in a research report on Monday, July 24th. Zacks Investment Research upgraded Genesco from a strong sell rating to a hold rating in a research report on Tuesday, August 1st. Finally, UBS AG lowered Genesco from a positive rating to a neutral rating in a research report on Monday, August 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $32.67.
Genesco (NYSE:GCO) traded down 2.49% during midday trading on Thursday, hitting $23.50. The stock had a trading volume of 402,020 shares. Genesco has a 12-month low of $20.90 and a 12-month high of $72.00. The company has a 50-day moving average price of $25.42 and a 200-day moving average price of $36.48. The company has a market cap of $468.10 million, a price-to-earnings ratio of 6.60 and a beta of 1.36.
Genesco (NYSE:GCO) last issued its quarterly earnings results on Thursday, August 31st. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.04). Genesco had a net margin of 2.43% and a return on equity of 7.36%. The firm had revenue of $616.50 million during the quarter, compared to the consensus estimate of $626.93 million. During the same quarter last year, the firm posted $0.34 earnings per share. Genesco’s revenue was down 1.5% compared to the same quarter last year. Equities analysts anticipate that Genesco will post $3.38 EPS for the current year.
In other Genesco news, Chairman Robert J. Dennis purchased 25,000 shares of Genesco stock in a transaction on Wednesday, September 6th. The stock was bought at an average price of $23.81 per share, for a total transaction of $595,250.00. Following the transaction, the chairman now owns 224,935 shares of the company’s stock, valued at approximately $5,355,702.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mimi Eckel Vaughn purchased 10,000 shares of Genesco stock in a transaction on Wednesday, September 6th. The shares were acquired at an average price of $24.16 per share, with a total value of $241,600.00. Following the transaction, the senior vice president now directly owns 87,140 shares in the company, valued at approximately $2,105,302.40. The disclosure for this purchase can be found here. Insiders own 3.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in GCO. Russell Investments Group Ltd. boosted its position in Genesco by 130.9% during the 1st quarter. Russell Investments Group Ltd. now owns 4,212 shares of the company’s stock worth $233,000 after acquiring an additional 2,388 shares during the period. UBS Asset Management Americas Inc. boosted its position in Genesco by 145.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 10,536 shares of the company’s stock worth $584,000 after acquiring an additional 6,237 shares during the period. Karp Capital Management Corp acquired a new position in Genesco during the 1st quarter worth $604,000. Parametric Portfolio Associates LLC boosted its position in Genesco by 3.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 104,889 shares of the company’s stock worth $5,816,000 after acquiring an additional 3,391 shares during the period. Finally, Mason Street Advisors LLC boosted its position in Genesco by 3.1% during the 1st quarter. Mason Street Advisors LLC now owns 4,647 shares of the company’s stock worth $258,000 after acquiring an additional 140 shares during the period. Institutional investors own 94.38% of the company’s stock.
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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