Zacks Investment Research cut shares of Genesco (NYSE:GCO) from a hold rating to a sell rating in a report published on Tuesday.

According to Zacks, “Genesco Inc., a Nashville-based specialty retailer, sells footwear, headwear and accessories in retail stores in the United States and Canada. The Company sells its products principally under the names Journeys, Journeys Kidz, Shi by Journeys, Johnston & Murphy, Underground Station, Hatworld, Lids, Hat Shack, Hat Zone, Head Quarters and Cap Connection, and on internet websites. The Company also sells footwear at wholesale under its Johnston & Murphy brand and under the licensed Dockers brand. “

A number of other equities analysts also recently commented on the company. TheStreet downgraded Genesco from a c- rating to a d rating in a report on Friday, December 1st. Piper Jaffray Companies set a $35.00 price objective on Genesco and gave the stock a buy rating in a report on Wednesday, November 29th. Susquehanna Bancshares restated a hold rating and issued a $30.00 price objective on shares of Genesco in a report on Tuesday, November 28th. Buckingham Research raised their price objective on Genesco from $23.00 to $30.00 and gave the stock a neutral rating in a report on Monday, November 20th. Finally, SunTrust Banks set a $33.00 price objective on Genesco and gave the stock a buy rating in a report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $33.29.

Shares of Genesco (NYSE:GCO) traded up $0.05 during trading hours on Tuesday, reaching $28.75. The company’s stock had a trading volume of 487,900 shares, compared to its average volume of 422,526. The company has a current ratio of 2.31, a quick ratio of 0.47 and a debt-to-equity ratio of 0.29. Genesco has a 12-month low of $20.90 and a 12-month high of $72.00. The firm has a market cap of $571.68, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 0.98 and a beta of 1.38.

Genesco (NYSE:GCO) last issued its quarterly earnings results on Friday, December 1st. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.10). The business had revenue of $716.80 million during the quarter, compared to analyst estimates of $706.58 million. Genesco had a positive return on equity of 6.92% and a negative net margin of 4.24%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 earnings per share. equities analysts predict that Genesco will post 3.07 earnings per share for the current year.

Several large investors have recently made changes to their positions in the stock. Capstone Asset Management Co. raised its holdings in shares of Genesco by 1.7% during the 2nd quarter. Capstone Asset Management Co. now owns 8,180 shares of the company’s stock valued at $277,000 after buying an additional 140 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Genesco by 8.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,660 shares of the company’s stock valued at $203,000 after buying an additional 287 shares during the period. Thrivent Financial For Lutherans raised its holdings in shares of Genesco by 4.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 11,810 shares of the company’s stock valued at $400,000 after buying an additional 510 shares during the period. Citigroup Inc. raised its holdings in shares of Genesco by 2.2% during the 2nd quarter. Citigroup Inc. now owns 23,967 shares of the company’s stock valued at $813,000 after buying an additional 525 shares during the period. Finally, Teachers Advisors LLC raised its holdings in shares of Genesco by 3.3% during the 1st quarter. Teachers Advisors LLC now owns 36,065 shares of the company’s stock valued at $2,000,000 after buying an additional 1,140 shares during the period. Institutional investors and hedge funds own 97.82% of the company’s stock.

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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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