Genesco (GCO) Cut to “D” at TheStreet

TheStreet downgraded shares of Genesco (NYSE:GCO) from a c- rating to a d rating in a report published on Friday.

A number of other research firms have also commented on GCO. Piper Jaffray Companies set a $35.00 price target on shares of Genesco and gave the company a buy rating in a report on Wednesday, November 29th. Buckingham Research upped their price target on shares of Genesco from $23.00 to $30.00 and gave the company a neutral rating in a report on Monday, November 20th. Susquehanna Bancshares reiterated a hold rating and set a $30.00 price target on shares of Genesco in a report on Tuesday, November 28th. BidaskClub lowered shares of Genesco from a sell rating to a strong sell rating in a report on Monday, August 14th. Finally, UBS lowered shares of Genesco from a positive rating to a neutral rating in a report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $33.29.

Genesco (GCO) traded up $2.05 during trading hours on Friday, reaching $27.60. 1,149,200 shares of the company were exchanged, compared to its average volume of 418,007. Genesco has a 52 week low of $20.90 and a 52 week high of $72.00. The company has a quick ratio of 0.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.29. The company has a market cap of $508.93, a price-to-earnings ratio of 8.16, a P/E/G ratio of 0.81 and a beta of 1.38.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, December 1st. The company reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.10). Genesco had a negative net margin of 4.24% and a positive return on equity of 6.92%. The firm had revenue of $716.80 million for the quarter, compared to the consensus estimate of $706.58 million. During the same quarter in the prior year, the company earned $1.28 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. research analysts predict that Genesco will post 3.33 EPS for the current fiscal year.

In related news, Chairman Robert J. Dennis acquired 25,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was acquired at an average cost of $23.81 per share, for a total transaction of $595,250.00. Following the acquisition, the chairman now owns 224,935 shares of the company’s stock, valued at $5,355,702.35. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mimi Eckel Vaughn acquired 10,000 shares of the firm’s stock in a transaction on 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 completion of the acquisition, 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. 3.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of GCO. State of Alaska Department of Revenue grew its position in shares of Genesco by 77.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock worth $131,000 after buying an additional 1,703 shares during the period. Tower Research Capital LLC TRC purchased a new stake in Genesco during the 2nd quarter valued at about $144,000. Public Employees Retirement System of Ohio grew its position in Genesco by 16.9% during 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. Pinnacle Financial Partners Inc. purchased a new stake in Genesco during the 3rd quarter valued at about $226,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Genesco during the 3rd quarter valued at about $240,000. 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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