Genesco Inc. (GCO) Rating Increased to Buy at ValuEngine
Genesco Inc. (NYSE:GCO) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Monday.
Several other equities analysts also recently issued reports on the stock. Piper Jaffray Companies reissued a “buy” rating and set a $39.00 price target on shares of Genesco in a report on Sunday. Zacks Investment Research cut shares of Genesco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 price objective on shares of Genesco in a report on Thursday, August 31st. BidaskClub cut shares of Genesco from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Finally, Morgan Stanley cut their target price on shares of Genesco from $38.00 to $28.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $37.57.
Shares of Genesco (NYSE:GCO) opened at 26.40 on Monday. Genesco has a 52 week low of $20.90 and a 52 week high of $72.00. The firm has a market cap of $525.86 million, a price-to-earnings ratio of 7.41 and a beta of 1.36. The firm has a 50 day moving average of $25.26 and a 200 day moving average of $37.74.
Genesco (NYSE:GCO) last released its quarterly earnings data on Thursday, August 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The company had revenue of $616.50 million for the quarter, compared to analyst estimates of $626.93 million. Genesco had a return on equity of 7.36% and a net margin of 2.43%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share. Equities analysts predict that Genesco will post $3.38 earnings per share for the current fiscal year.
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In other Genesco news, Chairman Robert J. Dennis bought 25,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The shares were bought at an average price of $23.81 per share, with a total value of $595,250.00. Following the purchase, the chairman now owns 224,935 shares of the company’s stock, valued at $5,355,702.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Mimi Eckel Vaughn bought 10,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average cost of $24.16 per share, for a total transaction of $241,600.00. Following the purchase, the senior vice president now directly owns 87,140 shares in the company, valued at approximately $2,105,302.40. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 36,000 shares of company stock valued at $869,170. 3.30% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of GCO. Thrivent Financial For Lutherans raised its stake in shares of Genesco by 0.4% during the first quarter. Thrivent Financial For Lutherans now owns 11,300 shares of the company’s stock worth $627,000 after buying an additional 40 shares during the last quarter. M&T Bank Corp boosted its stake in Genesco by 1.1% in the first quarter. M&T Bank Corp now owns 4,139 shares of the company’s stock valued at $229,000 after acquiring an additional 45 shares during the last quarter. Mason Street Advisors LLC boosted its stake in Genesco by 3.1% in the first quarter. Mason Street Advisors LLC now owns 4,647 shares of the company’s stock valued at $258,000 after acquiring an additional 140 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Genesco by 1.7% in the second quarter. Capstone Asset Management Co. now owns 8,180 shares of the company’s stock valued at $277,000 after acquiring an additional 140 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Genesco by 8.5% in the first quarter. Public Employees Retirement System of Ohio now owns 3,660 shares of the company’s stock valued at $203,000 after acquiring an additional 287 shares during the last quarter. Institutional investors own 94.38% 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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