Genesco Inc. (GCO) Lowered to Neutral at Susquehanna
A number of other equities research analysts have also issued reports on the stock. Piper Jaffray Cos. reissued a neutral rating and set a $62.00 target price on shares of Genesco in a research note on Thursday, September 1st. Zacks Investment Research downgraded shares of Genesco from a buy rating to a hold rating in a report on Tuesday. TheStreet downgraded shares of Genesco from a buy rating to a hold rating in a report on Wednesday, September 14th. Morgan Stanley downgraded shares of Genesco from an overweight rating to an equal weight rating and cut their price target for the company from $79.00 to $74.00 in a report on Wednesday, July 20th. Finally, CL King downgraded shares of Genesco from a strong-buy rating to a buy rating in a report on Wednesday, October 19th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $63.88.
Genesco (NYSE:GCO) traded down 0.30% during trading on Thursday, reaching $66.65. 36,214 shares of the company’s stock were exchanged. Genesco has a 1-year low of $47.66 and a 1-year high of $74.21. The company’s 50-day moving average is $56.47 and its 200-day moving average is $61.91. The company has a market capitalization of $1.37 billion, a PE ratio of 13.98 and a beta of 1.18.
Genesco (NYSE:GCO) last issued its earnings results on Thursday, September 1st. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. The company earned $625.60 million during the quarter. Genesco had a net margin of 3.49% and a return on equity of 10.65%. The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. Equities research analysts expect that Genesco will post $3.90 earnings per share for the current fiscal year.
In other Genesco news, insider David Baxter purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The stock was acquired at an average cost of $51.34 per share, with a total value of $256,700.00. Following the completion of the purchase, the insider now directly owns 15,644 shares in the company, valued at approximately $803,162.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David M. Tehle purchased 4,100 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The shares were acquired at an average cost of $48.66 per share, with a total value of $199,506.00. Following the completion of the purchase, the director now owns 6,006 shares of the company’s stock, valued at $292,251.96. The disclosure for this purchase can be found here. 3.00% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of GCO. Price T Rowe Associates Inc. MD increased its stake in Genesco by 8,257.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 464,700 shares of the company’s stock worth $25,308,000 after buying an additional 459,140 shares during the period. LPL Financial LLC increased its stake in Genesco by 113.6% in the third quarter. LPL Financial LLC now owns 7,100 shares of the company’s stock worth $389,000 after buying an additional 3,776 shares during the period. Clinton Group Inc. acquired a new stake in Genesco during the third quarter worth $1,013,000. The Manufacturers Life Insurance Company acquired a new stake in Genesco during the third quarter worth $752,000. Finally, Two Sigma Advisers LP acquired a new stake in Genesco during the third quarter worth $3,352,000. 95.87% of the stock is owned by institutional investors and hedge funds.
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. Its Journeys Group segment includes Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy and Underground by Journeys retail stores, catalog and e-commerce operations.
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