Genesco Inc. (NYSE:GCO) had its target price trimmed by Buckingham Research from $38.00 to $23.00 in a research note released on Friday morning. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also recently weighed in on the company. Jefferies Group LLC reiterated a hold rating and set a $27.00 price target on shares of Genesco in a research report on Thursday. Susquehanna Bancshares Inc reiterated a neutral rating and set a $29.00 price target (down from $43.00) on shares of Genesco in a research report on Monday, August 28th. UBS AG cut Genesco from a positive rating to a neutral rating in a research report on Monday, August 28th. BidaskClub upgraded Genesco from a strong sell rating to a sell rating in a research report on Friday, August 25th. Finally, Zacks Investment Research cut Genesco from a hold rating to a sell rating in a research report on Wednesday, August 23rd. Two equities research 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 has a consensus rating of Hold and a consensus target price of $39.00.

Shares of Genesco (NYSE:GCO) opened at 23.20 on Friday. The stock has a market cap of $454.56 million, a price-to-earnings ratio of 5.21 and a beta of 1.29. The stock’s 50 day moving average is $28.83 and its 200 day moving average is $43.10. Genesco has a 52-week low of $20.90 and a 52-week high of $72.00.

Genesco (NYSE:GCO) last released its earnings results on Thursday, August 31st. The company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.04. Genesco had a return on equity of 7.36% and a net margin of 2.43%. The firm had revenue of $616.50 million for the quarter, compared to analyst estimates of $626.93 million. During the same period last year, the firm earned $0.34 EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts predict that Genesco will post $3.61 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Buckingham Research Cuts Genesco Inc. (GCO) Price Target to $23.00” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/09/04/buckingham-research-cuts-genesco-inc-gco-price-target-to-23-00.html.

In other Genesco news, Director Kevin Patrick Mcdermott acquired 1,000 shares of the business’s stock in a transaction dated Thursday, July 6th. The stock was acquired at an average cost of $32.32 per share, for a total transaction 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 $279,794.24. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.30% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Genesco by 45,756.3% in the first quarter. BlackRock Inc. now owns 2,482,203 shares of the company’s stock valued at $137,638,000 after buying an additional 2,476,790 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Genesco by 9.4% in the second quarter. Eagle Asset Management Inc. now owns 2,064,808 shares of the company’s stock valued at $69,996,000 after buying an additional 177,335 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Genesco by 0.8% in the first quarter. Vanguard Group Inc. now owns 1,964,020 shares of the company’s stock valued at $108,905,000 after buying an additional 15,003 shares in the last quarter. Royce & Associates LP increased its position in shares of Genesco by 1.2% in the first quarter. Royce & Associates LP now owns 659,510 shares of the company’s stock valued at $36,570,000 after buying an additional 7,500 shares in the last quarter. Finally, State Street Corp increased its position in shares of Genesco by 12.4% in the second quarter. State Street Corp now owns 648,235 shares of the company’s stock valued at $21,977,000 after buying an additional 71,541 shares in the last quarter. Institutional investors and hedge funds own 95.93% of the company’s stock.

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.

Analyst Recommendations for Genesco (NYSE:GCO)

Receive News & Stock Ratings for Genesco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesco Inc. and related stocks with our FREE daily email newsletter.