Genesco Inc. (GCO) Receives Neutral Rating from Susquehanna Bancshares Inc
Genesco Inc. (NYSE:GCO)‘s stock had its “neutral” rating restated by stock analysts at Susquehanna Bancshares Inc in a report issued on Monday.
Other analysts have also issued research reports about the company. Piper Jaffray Companies set a $39.00 price objective on Genesco and gave the company a “buy” rating in a research note on Saturday, June 24th. B. Riley reiterated a “buy” rating and set a $50.00 target price on shares of Genesco in a research note on Saturday, May 27th. UBS AG lowered Genesco from a “positive” rating to a “neutral” rating in a research note on Monday. Zacks Investment Research lowered Genesco from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 1st. Finally, BidaskClub upgraded Genesco from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $48.29.
Genesco (GCO) opened at 27.75 on Monday. The stock has a market cap of $543.71 million, a PE ratio of 6.23 and a beta of 1.24. The firm has a 50-day moving average price of $29.89 and a 200-day moving average price of $44.41. Genesco has a 12-month low of $21.85 and a 12-month high of $73.45.
Genesco (NYSE:GCO) last released its quarterly earnings data on Thursday, May 25th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.22. The business had revenue of $643.40 million during the quarter, compared to the consensus estimate of $644.15 million. Genesco had a net margin of 3.07% and a return on equity of 8.41%. Genesco’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. Analysts forecast that Genesco will post $3.78 EPS for the current fiscal year.
In related news, Director Kevin Patrick Mcdermott purchased 1,000 shares of Genesco stock in a transaction that occurred on Thursday, July 6th. The shares were acquired at an average price of $32.32 per share, with a total value of $32,320.00. Following the completion of the transaction, the director now directly owns 8,657 shares of the company’s stock, valued at approximately $279,794.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.30% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in shares of Genesco during the first quarter worth about $105,000. Envestnet Asset Management Inc. increased its stake in shares of Genesco by 26.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,347 shares of the company’s stock worth $130,000 after buying an additional 487 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Genesco by 44.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock worth $142,000 after buying an additional 775 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Genesco by 25.1% in the first quarter. SG Americas Securities LLC now owns 2,815 shares of the company’s stock worth $156,000 after buying an additional 565 shares in the last quarter. 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 worth $203,000 after buying an additional 287 shares in the last quarter. 95.93% of the stock is currently 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. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.
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