Several other brokerages have also recently issued reports on GCO. Zacks Investment Research cut Genesco from a hold rating to a strong sell rating in a report on Thursday, June 1st. Jefferies Group LLC restated a hold rating and issued a $27.00 target price on shares of Genesco in a report on Thursday, August 31st. BidaskClub cut Genesco from a sell rating to a strong sell rating in a report on Monday, August 14th. Susquehanna Bancshares Inc restated a neutral rating and issued a $29.00 target price (down from $43.00) on shares of Genesco in a report on Monday, August 28th. Finally, B. Riley restated a buy rating and issued a $50.00 target price on shares of Genesco in a report on Saturday, May 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Genesco presently has a consensus rating of Hold and an average target price of $37.57.
Genesco (GCO) opened at 26.25 on Wednesday. The firm’s 50-day moving average is $26.94 and its 200 day moving average is $40.80. Genesco has a 1-year low of $20.90 and a 1-year high of $72.00. The stock has a market capitalization of $522.87 million, a price-to-earnings ratio of 7.37 and a beta of 1.29.
Genesco (NYSE:GCO) last issued its earnings results 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 company had revenue of $616.50 million during the quarter, compared to analysts’ expectations of $626.93 million. Genesco had a net margin of 2.43% and a return on equity of 7.36%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 earnings per share. Equities analysts anticipate that Genesco will post $3.38 EPS for the current fiscal year.
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In other news, Chairman Robert J. Dennis bought 25,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was bought at an average cost of $23.81 per share, for a total transaction of $595,250.00. Following the acquisition, the chairman now directly owns 224,935 shares of the company’s stock, valued at approximately $5,355,702.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mimi Eckel Vaughn bought 10,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were purchased at an average price of $24.16 per share, with a total value of $241,600.00. Following the completion of the acquisition, the senior vice president now directly owns 87,140 shares in the company, valued at $2,105,302.40. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 36,000 shares of company stock valued at $869,170. Company insiders own 3.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Thrivent Financial For Lutherans boosted its holdings in Genesco by 0.4% during the 1st quarter. Thrivent Financial For Lutherans now owns 11,300 shares of the company’s stock valued at $627,000 after acquiring an additional 40 shares during the period. M&T Bank Corp boosted its holdings in Genesco by 1.1% during the 1st quarter. M&T Bank Corp now owns 4,139 shares of the company’s stock valued at $229,000 after acquiring an additional 45 shares during the period. Mason Street Advisors LLC boosted its holdings in Genesco by 3.1% during the 1st quarter. Mason Street Advisors LLC now owns 4,647 shares of the company’s stock valued at $258,000 after acquiring an additional 140 shares during the period. Capstone Asset Management Co. boosted its holdings in Genesco by 1.7% during the 2nd 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. Finally, Public Employees Retirement System of Ohio boosted its holdings in Genesco by 8.5% during the 1st 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. Institutional investors own 95.93% of the company’s stock.
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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