Genesco Inc. (GCO) Earns Hold Rating from Jefferies Group LLC
Genesco Inc. (NYSE:GCO)‘s stock had its “hold” rating reaffirmed by investment analysts at Jefferies Group LLC in a report issued on Thursday. They presently have a $27.00 price target on the stock. Jefferies Group LLC’s price target would indicate a potential upside of 14.89% from the company’s current price.
Other analysts also recently issued reports about the stock. ValuEngine upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Piper Jaffray Companies set a $39.00 target price on shares of Genesco and gave the stock a “buy” rating in a report on Saturday, June 24th. Morgan Stanley dropped their target price on shares of Genesco from $38.00 to $28.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 13th. Zacks Investment Research upgraded shares of Genesco from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Buckingham Research dropped their target price on shares of Genesco from $38.00 to $23.00 and set a “neutral” rating on the stock in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Genesco currently has a consensus rating of “Hold” and an average price target of $32.67.
Genesco (NYSE GCO) traded down 2.49% during mid-day trading on Thursday, hitting $23.50. 402,020 shares of the stock traded hands. The stock has a 50 day moving average price of $25.30 and a 200 day moving average price of $36.10. Genesco has a 12-month low of $20.90 and a 12-month high of $72.00. The firm has a market cap of $468.10 million, a PE ratio of 6.60 and a beta of 1.36.
Genesco (NYSE:GCO) last released its quarterly earnings results on Thursday, August 31st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). Genesco had a return on equity of 7.36% and a net margin of 2.43%. The company had revenue of $616.50 million for 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. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, analysts expect that Genesco will post $3.38 earnings per share for the current fiscal year.
In other news, SVP Mimi Eckel Vaughn bought 10,000 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 87,140 shares in the company, valued at approximately $2,105,302.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Robert J. Dennis bought 25,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was purchased at an average cost of $23.81 per share, for a total transaction of $595,250.00. Following the completion of the transaction, 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 insiders.
Several institutional investors have recently added to or reduced their stakes in GCO. Envestnet Asset Management Inc. increased its position in shares of Genesco by 26.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,347 shares of the company’s stock worth $130,000 after acquiring an additional 487 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 acquiring 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 acquiring an additional 775 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Genesco in the second quarter worth approximately $144,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of Genesco by 16.9% in the second quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock worth $145,000 after acquiring an additional 618 shares in the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.
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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