Genesco Inc. (GCO) Cut to “Neutral” at UBS AG
UBS AG lowered shares of Genesco Inc. (NYSE:GCO) from a positive rating to a neutral rating in a report published on Monday morning, The Fly reports.
GCO has been the topic of a number of other reports. BidaskClub upgraded Genesco from a strong sell rating to a sell rating in a report on Friday, August 25th. Susquehanna Bancshares Inc restated a positive rating and issued a $43.00 price objective (down from $66.00) on shares of Genesco in a report on Tuesday, May 30th. ValuEngine downgraded Genesco from a buy rating to a hold rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Genesco from a strong sell rating to a hold rating in a report on Tuesday, August 1st. Finally, Morgan Stanley restated an equal weight rating and issued a $38.00 price objective (down from $59.00) on shares of Genesco in a report on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $46.29.
Genesco (NYSE GCO) opened at 25.50 on Monday. The company has a market capitalization of $499.62 million, a PE ratio of 5.73 and a beta of 1.24. Genesco has a 12-month low of $21.85 and a 12-month high of $73.45. The stock has a 50 day moving average of $29.89 and a 200-day moving average of $44.41.
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In related news, Director Kevin Patrick Mcdermott bought 1,000 shares of the stock in a transaction dated Thursday, July 6th. The stock was acquired at an average price of $32.32 per share, for a total transaction of $32,320.00. Following the completion of the purchase, the director now owns 8,657 shares in the company, valued at $279,794.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.30% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Teachers Advisors LLC raised its stake in shares of Genesco by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 34,925 shares of the company’s stock worth $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 during the period. Shell Asset Management Co. acquired 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 during the period. 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 during the period. Institutional investors and hedge funds 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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