Genesco (NYSE:GCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Genesco Inc., a Nashville-based specialty retailer, sells footwear, headwear and accessories in retail stores in the United States and Canada. The Company sells its products principally under the names Journeys, Journeys Kidz, Shi by Journeys, Johnston & Murphy, Underground Station, Hatworld, Lids, Hat Shack, Hat Zone, Head Quarters and Cap Connection, and on internet websites. The Company also sells footwear at wholesale under its Johnston & Murphy brand and under the licensed Dockers brand. “

Other equities research analysts also recently issued reports about the company. TheStreet downgraded Genesco from a “c-” rating to a “d” rating in a report on Friday. Jefferies Group reissued a “hold” rating and set a $27.00 price target on shares of Genesco in a research report on Thursday, October 12th. UBS lowered Genesco from a “positive” rating to a “neutral” rating in a research report on Monday, August 28th. Piper Jaffray Companies reissued a “buy” rating and set a $39.00 price target on shares of Genesco in a research report on Wednesday, November 1st. Finally, ValuEngine lowered Genesco from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two 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’s stock. Genesco presently has a consensus rating of “Hold” and a consensus price target of $33.29.

Shares of Genesco (NYSE:GCO) traded up $0.40 during midday trading on Tuesday, hitting $28.00. The stock had a trading volume of 1,186,103 shares, compared to its average volume of 421,289. Genesco has a twelve month low of $20.90 and a twelve month high of $72.00. The stock has a market capitalization of $508.93, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 0.81 and a beta of 1.38. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.47 and a current ratio of 2.31.

Genesco (NYSE:GCO) last announced its earnings results on Friday, December 1st. The company reported $1.02 EPS for the quarter, missing the 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 company had revenue of $716.80 million for the quarter, compared to analysts’ expectations of $706.58 million. During the same period in the prior year, the company earned $1.28 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. research analysts anticipate that Genesco will post 3.33 earnings per share for the current fiscal year.

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

Large investors have recently made changes to their positions in the stock. Teachers Advisors LLC lifted its position in shares of Genesco by 3.3% in the 1st quarter. Teachers Advisors LLC now owns 36,065 shares of the company’s stock worth $2,000,000 after acquiring an additional 1,140 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Genesco by 8.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,660 shares of the company’s stock worth $203,000 after acquiring an additional 287 shares during the period. Capstone Asset Management Co. lifted its position in shares of Genesco by 1.7% in the 2nd quarter. Capstone Asset Management Co. now owns 8,180 shares of the company’s stock worth $277,000 after acquiring an additional 140 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Genesco by 77.8% in the 2nd 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 during the period. Finally, Aperio Group LLC lifted its position in shares of Genesco by 302.4% in the 2nd quarter. Aperio Group LLC now owns 43,829 shares of the company’s stock worth $1,486,000 after acquiring an additional 32,937 shares during the period. Hedge funds and other institutional investors own 97.82% of the company’s stock.

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About Genesco

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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