Jefferies Group LLC Reaffirms “Hold” Rating for Genesco Inc. (GCO)
Genesco Inc. (NYSE:GCO)‘s stock had its “hold” rating reiterated by analysts at Jefferies Group LLC in a report released on Thursday. They presently have a $27.00 price target on the stock. Jefferies Group LLC’s price objective would suggest a potential upside of 27.66% from the company’s current price.
Several other equities analysts have also issued reports on the stock. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $29.00 price objective (down from $43.00) on shares of Genesco in a report on Monday. UBS AG lowered shares of Genesco from a “positive” rating to a “neutral” rating in a report on Monday. BidaskClub raised shares of Genesco from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research lowered shares of Genesco from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Finally, ValuEngine raised shares of Genesco from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $43.29.
Shares of Genesco (NYSE:GCO) traded down 17.06% during mid-day trading on Thursday, hitting $21.15. The stock had a trading volume of 2,656,143 shares. The company’s 50 day moving average is $29.89 and its 200-day moving average is $44.41. The stock has a market cap of $414.39 million, a P/E ratio of 4.75 and a beta of 1.24. Genesco has a 52-week low of $20.90 and a 52-week high of $73.45.
Genesco (NYSE:GCO) last issued its quarterly earnings data on Thursday, August 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. The business had revenue of $616.50 million for the quarter, compared to analysts’ expectations of $626.93 million. Genesco had a net margin of 3.07% and a return on equity of 8.41%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share. On average, equities research analysts anticipate that Genesco will post $3.73 earnings per share for the current fiscal year.
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In other news, Director Kevin Patrick Mcdermott bought 1,000 shares of the stock in a transaction on Thursday, July 6th. The stock was bought at an average cost of $32.32 per share, for a total transaction of $32,320.00. Following the completion of the purchase, the director now directly owns 8,657 shares in the company, valued at $279,794.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.30% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in GCO. Thrivent Financial For Lutherans increased its stake in shares of Genesco by 0.4% in the first quarter. Thrivent Financial For Lutherans now owns 11,300 shares of the company’s stock valued at $627,000 after buying an additional 40 shares during the period. M&T Bank Corp increased its stake in shares of Genesco by 1.1% in the first quarter. M&T Bank Corp now owns 4,139 shares of the company’s stock valued at $229,000 after buying an additional 45 shares during the period. Mason Street Advisors LLC increased its stake in shares of Genesco by 3.1% in the first quarter. Mason Street Advisors LLC now owns 4,647 shares of the company’s stock valued at $258,000 after buying an additional 140 shares during the period. Capstone Asset Management Co. increased its stake in shares of Genesco by 1.7% in the second quarter. Capstone Asset Management Co. now owns 8,180 shares of the company’s stock valued at $277,000 after buying an additional 140 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Genesco by 8.5% in the first quarter. Public Employees Retirement System of Ohio now owns 3,660 shares of the company’s stock valued at $203,000 after buying an additional 287 shares during the period. Institutional investors own 95.93% of the company’s stock.
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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