BidaskClub Upgrades Genesco Inc. (NYSE:GCO) to “Sell”

BidaskClub upgraded shares of Genesco Inc. (NYSE:GCO) from a strong sell rating to a sell rating in a report published on Monday, July 31st.

GCO has been the subject of a number of other reports. Susquehanna Bancshares Inc reiterated a positive rating and issued a $43.00 price target (down from $66.00) on shares of Genesco in a research report on Tuesday, May 30th. ValuEngine downgraded shares of Genesco from a buy rating to a hold rating in a research report on Friday, June 2nd. Jefferies Group LLC set a $62.00 price target on shares of Genesco and gave the company a hold rating in a research report on Thursday, April 20th. Piper Jaffray Companies upgraded shares of Genesco from a neutral rating to an overweight rating and dropped their price target for the company from $63.00 to $62.00 in a research report on Thursday, April 20th. Finally, Morgan Stanley reiterated an equal weight rating and issued a $38.00 price target (down from $59.00) on shares of Genesco in a research report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Genesco presently has an average rating of Hold and an average target price of $48.29.

Genesco (NYSE:GCO) traded up 0.88% during trading on Monday, reaching $28.70. The company’s stock had a trading volume of 342,689 shares. The firm’s 50-day moving average is $32.07 and its 200-day moving average is $46.89. Genesco has a 52-week low of $27.75 and a 52-week high of $74.21. The stock has a market cap of $562.32 million, a P/E ratio of 6.45 and a beta of 1.24.

Genesco (NYSE:GCO) last issued its quarterly earnings data on Thursday, May 25th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.22. The company had revenue of $643.40 million for the quarter, compared to analyst estimates of $644.15 million. Genesco had a return on equity of 8.41% and a net margin of 3.07%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the business earned $0.62 earnings per share. Equities research analysts forecast that Genesco will post $3.89 EPS for the current year.

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In other news, Director Kevin Patrick Mcdermott acquired 1,000 shares of the stock in a transaction on Thursday, July 6th. The stock was acquired at an average cost of $32.32 per share, for a total transaction of $32,320.00. Following the completion of the transaction, the director now directly owns 8,657 shares in the company, valued at $279,794.24. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 3.30% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of GCO. Envestnet Asset Management Inc. boosted its stake in Genesco by 34.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,860 shares of the company’s stock worth $116,000 after buying an additional 475 shares during the last quarter. Quantbot Technologies LP bought a new stake in Genesco during the first quarter worth $105,000. PNC Financial Services Group Inc. boosted its stake in Genesco by 44.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock worth $142,000 after buying an additional 775 shares during the last quarter. SG Americas Securities LLC boosted its stake in Genesco by 25.1% in the first quarter. SG Americas Securities LLC now owns 2,815 shares of the company’s stock worth $156,000 after buying an additional 565 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 worth $203,000 after buying an additional 287 shares during the last quarter.

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.

Analyst Recommendations for Genesco (NYSE:GCO)

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