A number of other equities analysts have also recently issued reports on the company. UBS AG cut Genesco from a positive rating to a neutral rating in a report on Monday, August 28th. ValuEngine cut Genesco from a buy rating to a hold rating in a report on Friday, September 1st. Susquehanna Bancshares Inc reiterated a neutral rating and set a $29.00 target price (down previously from $43.00) on shares of Genesco in a report on Monday, August 28th. BidaskClub cut Genesco from a sell rating to a strong sell rating in a report on Monday, July 24th. Finally, Zacks Investment Research cut Genesco from a hold rating to a sell rating in a report on Wednesday, August 23rd. 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 stock currently has an average rating of Hold and an average price target of $32.71.
Shares of Genesco (NYSE GCO) opened at 23.90 on Monday. Genesco has a 52-week low of $20.90 and a 52-week high of $72.00. The company’s 50-day moving average price is $25.07 and its 200-day moving average price is $35.30. The firm has a market cap of $476.06 million, a PE ratio of 6.71 and a beta of 1.36.
Genesco (NYSE:GCO) last released its earnings results on Thursday, August 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.04). The firm had revenue of $616.50 million for the quarter, compared to the consensus estimate of $626.93 million. Genesco had a return on equity of 7.36% and a net margin of 2.43%. Genesco’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS. Equities analysts expect that Genesco will post $3.38 earnings per share for the current fiscal year.
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In related news, Chairman Robert J. Dennis acquired 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was bought at an average price of $23.81 per share, for a total transaction of $595,250.00. Following the acquisition, the chairman now directly owns 224,935 shares of the company’s stock, valued at $5,355,702.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mimi Eckel Vaughn acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was bought at an average price of $24.16 per share, with a total value of $241,600.00. Following the acquisition, the senior vice president now directly owns 87,140 shares in the company, valued at $2,105,302.40. The disclosure for this purchase can be found here. 3.30% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its stake in Genesco by 16.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock valued at $145,000 after purchasing an additional 618 shares during the last quarter. Verition Fund Management LLC lifted its stake in Genesco by 391.7% in the 2nd quarter. Verition Fund Management LLC now owns 18,683 shares of the company’s stock valued at $633,000 after purchasing an additional 14,883 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in Genesco in the 2nd quarter valued at about $144,000. Arrowstreet Capital Limited Partnership lifted its stake in Genesco by 3.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 99,299 shares of the company’s stock valued at $3,366,000 after purchasing an additional 3,199 shares during the last quarter. Finally, State Street Corp lifted its stake in Genesco by 12.4% in the 2nd quarter. State Street Corp now owns 648,235 shares of the company’s stock valued at $21,977,000 after purchasing an additional 71,541 shares during the last quarter. Institutional investors and hedge funds own 94.38% 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.
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