Genesco (NYSE:GCO) was downgraded by TheStreet from a “c-” rating to a “d” rating in a report issued on Friday.

A number of other research firms have also issued reports on GCO. BidaskClub lowered shares of Genesco from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Jefferies Group set a $48.00 price objective on shares of Genesco and gave the company a “hold” rating in a research note on Saturday, August 19th. Zacks Investment Research lowered shares of Genesco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. UBS lowered shares of Genesco from a “positive” rating to a “neutral” rating in a research note on Monday, August 28th. Finally, Susquehanna Bancshares reiterated a “neutral” rating and set a $29.00 price objective (down previously from $43.00) on shares of Genesco in a research note on Monday, August 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $33.29.

Genesco (GCO) traded up $2.05 during midday trading on Friday, reaching $27.60. 1,149,200 shares of the company traded hands, compared to its average volume of 418,007. Genesco has a 52-week low of $20.90 and a 52-week high of $72.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.31 and a quick ratio of 0.47. The stock has a market capitalization of $508.93, a price-to-earnings ratio of 8.16, a price-to-earnings-growth ratio of 0.81 and a beta of 1.38.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, December 1st. The company reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.10). Genesco had a negative net margin of 4.24% and a positive return on equity of 6.92%. The business had revenue of $716.80 million during the quarter, compared to analysts’ expectations of $706.58 million. During the same quarter in the previous year, the business posted $1.28 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. sell-side analysts anticipate that Genesco will post 3.33 earnings per share for the current fiscal year.

In other Genesco news, Chairman Robert J. Dennis acquired 25,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was purchased at an average price of $23.81 per share, with a total value of $595,250.00. Following the completion of the acquisition, the chairman now directly owns 224,935 shares in the company, valued at approximately $5,355,702.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mimi Eckel Vaughn acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was acquired at an average cost of $24.16 per share, with a total value of $241,600.00. Following the acquisition, the senior vice president now owns 87,140 shares of the company’s stock, valued at $2,105,302.40. The disclosure for this purchase can be found here. 3.30% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Capstone Asset Management Co. boosted its holdings in shares of Genesco by 1.7% during the second quarter. Capstone Asset Management Co. now owns 8,180 shares of the company’s stock valued at $277,000 after acquiring an additional 140 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Genesco by 8.5% during the first quarter. Public Employees Retirement System of Ohio now owns 3,660 shares of the company’s stock valued at $203,000 after acquiring an additional 287 shares during the period. Thrivent Financial For Lutherans boosted its holdings in shares of Genesco by 4.5% during the second quarter. Thrivent Financial For Lutherans now owns 11,810 shares of the company’s stock valued at $400,000 after acquiring an additional 510 shares during the period. Citigroup Inc. boosted its holdings in shares of Genesco by 2.2% during the second quarter. Citigroup Inc. now owns 23,967 shares of the company’s stock valued at $813,000 after acquiring an additional 525 shares during the period. Finally, Teachers Advisors LLC boosted its holdings in shares of Genesco by 3.3% during the first quarter. Teachers Advisors LLC now owns 36,065 shares of the company’s stock valued at $2,000,000 after acquiring an additional 1,140 shares during the period. 97.82% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Genesco (NYSE:GCO)

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