Genesco (NYSE:GCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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. “
Other equities research analysts have also issued research reports about the stock. UBS lowered shares of Genesco from a “positive” rating to a “neutral” rating in a research note on Monday, August 28th. BidaskClub raised shares of Genesco from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Jefferies Group reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Genesco in a research note on Thursday, October 12th. ValuEngine raised shares of Genesco from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Buckingham Research reduced their price objective on shares of Genesco from $38.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, September 1st. 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 company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $33.29.
Genesco (NYSE GCO) opened at $28.70 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.47 and a current ratio of 2.31. Genesco has a fifty-two week low of $20.90 and a fifty-two week high of $72.00. The company has a market cap of $557.73, a price-to-earnings ratio of 8.95, a PEG ratio of 0.94 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 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 company had revenue of $716.80 million for the quarter, compared to analysts’ expectations of $706.58 million. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The company’s revenue was up .8% on a year-over-year basis. sell-side analysts predict that Genesco will post 3.12 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in GCO. Citadel Advisors LLC lifted its position in Genesco by 369.8% during the 2nd quarter. Citadel Advisors LLC now owns 353,341 shares of the company’s stock worth $11,978,000 after acquiring an additional 278,134 shares during the last quarter. Victory Capital Management Inc. lifted its position in Genesco by 59.2% during the 2nd quarter. Victory Capital Management Inc. now owns 647,015 shares of the company’s stock worth $21,934,000 after acquiring an additional 240,722 shares during the last quarter. Northern Trust Corp lifted its position in Genesco by 47.5% during the 2nd quarter. Northern Trust Corp now owns 586,814 shares of the company’s stock worth $19,893,000 after acquiring an additional 188,906 shares during the last quarter. Eagle Asset Management Inc. lifted its position in Genesco by 9.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 2,064,808 shares of the company’s stock worth $69,996,000 after acquiring an additional 177,335 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Genesco by 635.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 190,388 shares of the company’s stock worth $5,026,000 after acquiring an additional 164,485 shares during the last quarter. 97.82% of the stock is owned by hedge funds and other institutional investors.
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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