Genesco (GCO) Downgraded to D at TheStreet
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.
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.
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