A number of other equities analysts also recently issued reports on the company. UBS AG downgraded Genesco from a positive rating to a neutral rating in a research note on Monday, August 28th. ValuEngine downgraded Genesco from a buy rating to a hold rating in a research report on Friday, September 1st. Susquehanna Bancshares Inc reiterated a neutral rating and set a $29.00 target price (down from $43.00) on shares of Genesco in a research report on Monday, August 28th. BidaskClub downgraded Genesco from a sell rating to a strong sell rating in a research report on Monday, July 24th. Finally, Zacks Investment Research downgraded Genesco from a hold rating to a sell rating in a research report on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $32.67.
Shares of Genesco (NYSE GCO) opened at 25.70 on Friday. The company’s 50 day moving average price is $25.24 and its 200-day moving average price is $37.65. Genesco has a 1-year low of $20.90 and a 1-year high of $72.00. The company has a market capitalization of $511.92 million, a price-to-earnings ratio of 7.22 and a beta of 1.36.
Genesco (NYSE:GCO) last released its quarterly earnings results on Thursday, August 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.04). The firm had revenue of $616.50 million during the quarter, compared to analysts’ expectations of $626.93 million. Genesco had a return on equity of 7.36% and a net margin of 2.43%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned $0.34 earnings per share. On average, equities analysts forecast that Genesco will post $3.38 earnings per share for the current year.
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In other Genesco news, SVP Mimi Eckel Vaughn purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were acquired at an average cost of $24.16 per share, with a total value of $241,600.00. Following the completion of the acquisition, the senior vice president now directly owns 87,140 shares in the company, valued at $2,105,302.40. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Robert J. Dennis purchased 25,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were acquired at an average cost of $23.81 per share, for a total transaction of $595,250.00. Following the completion of the acquisition, the chairman now owns 224,935 shares of the company’s stock, valued at $5,355,702.35. The disclosure for this purchase can be found here. 3.30% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Quantbot Technologies LP bought a new stake in Genesco during the first quarter valued at about $105,000. Envestnet Asset Management Inc. raised its holdings in Genesco by 26.2% during the first quarter. Envestnet Asset Management Inc. now owns 2,347 shares of the company’s stock valued at $130,000 after acquiring an additional 487 shares during the period. State of Alaska Department of Revenue raised its holdings in Genesco by 77.8% during the second quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock valued at $131,000 after acquiring an additional 1,703 shares during the period. PNC Financial Services Group Inc. raised its holdings in Genesco by 44.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock valued at $142,000 after acquiring an additional 775 shares during the period. Finally, Tower Research Capital LLC TRC bought a new stake in Genesco during the second quarter valued at about $144,000. 94.38% of the stock is currently owned by institutional investors and hedge funds.
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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