Genesco Inc. (GCO) Stock Rating Upgraded by BidaskClub
Genesco Inc. (NYSE:GCO) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday.
A number of other equities research analysts also recently weighed in on GCO. Zacks Investment Research raised shares of Genesco from a “sell” rating to a “hold” rating in a research report on Thursday, May 18th. B. Riley raised shares of Genesco from a “neutral” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Monday, May 22nd. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $43.00 price objective (down previously from $66.00) on shares of Genesco in a research report on Tuesday, May 30th. Morgan Stanley reaffirmed an “equal weight” rating and set a $38.00 price objective (down previously from $59.00) on shares of Genesco in a research report on Thursday, June 1st. Finally, ValuEngine downgraded shares of Genesco from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $48.29.
Shares of Genesco (NYSE:GCO) traded up 9.47% during mid-day trading on Friday, reaching $27.75. The company’s stock had a trading volume of 704,434 shares. The stock has a market capitalization of $543.71 million, a price-to-earnings ratio of 6.23 and a beta of 1.24. Genesco has a 52 week low of $21.86 and a 52 week high of $73.45. The company’s 50-day moving average is $29.89 and its 200-day moving average is $44.41.
Genesco (NYSE:GCO) last announced its quarterly earnings data on Thursday, May 25th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.22. Genesco had a net margin of 3.07% and a return on equity of 8.41%. The business had revenue of $643.40 million for the quarter, compared to the consensus estimate of $644.15 million. During the same period in the prior year, the company earned $0.62 EPS. Genesco’s quarterly revenue was down .8% on a year-over-year basis. Equities analysts predict that Genesco will post $3.78 EPS for the current year.
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In other news, Director Kevin Patrick Mcdermott bought 1,340 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was purchased at an average price of $37.18 per share, for a total transaction of $49,821.20. Following the transaction, the director now owns 5,192 shares in the company, valued at $193,038.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Teachers Advisors LLC boosted its position in Genesco by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 34,925 shares of the company’s stock valued at $2,169,000 after buying an additional 2,031 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Genesco by 11.4% in the first quarter. Nisa Investment Advisors LLC now owns 12,810 shares of the company’s stock worth $710,000 after buying an additional 1,310 shares in the last quarter. Shell Asset Management Co. bought a new stake in shares of Genesco during the first quarter worth $1,073,000. Russell Investments Group Ltd. raised its stake in shares of Genesco by 130.9% in the first quarter. Russell Investments Group Ltd. now owns 4,212 shares of the company’s stock worth $233,000 after buying an additional 2,388 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in shares of Genesco by 2.3% in the first quarter. Great West Life Assurance Co. Can now owns 27,571 shares of the company’s stock worth $1,525,000 after buying an additional 633 shares in the last quarter.
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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