Genesco (GCO) Rating Lowered to Hold at ValuEngine

Genesco (NYSE:GCO) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Sunday, December 31st.

Other equities analysts have also recently issued research reports about the company. Jefferies Group reissued a “hold” rating and set a $27.00 price objective on shares of Genesco in a research report on Thursday, October 12th. TheStreet cut Genesco from a “c-” rating to a “d” rating in a research report on Friday, December 1st. Piper Jaffray Companies reissued a “buy” rating and set a $39.00 price objective on shares of Genesco in a research report on Wednesday, November 1st. Zacks Investment Research cut Genesco from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. Finally, Susquehanna Bancshares reissued a “hold” rating and set a $30.00 price objective on shares of Genesco in a research report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $34.25.

Shares of Genesco (NYSE:GCO) opened at $34.45 on Friday. The stock has a market capitalization of $687.01, a PE ratio of -5.47, a PEG ratio of 1.12 and a beta of 1.37. Genesco has a 52 week low of $20.90 and a 52 week high of $65.70. 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 (NYSE:GCO) last posted its quarterly earnings data on Friday, December 1st. The company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.10). Genesco had a positive return on equity of 6.93% and a negative net margin of 4.24%. The business had revenue of $716.80 million for the quarter, compared to analyst estimates of $706.58 million. During the same period in the prior year, the firm posted $1.28 EPS. Genesco’s revenue for the quarter was up .8% on a year-over-year basis. research analysts expect that Genesco will post 3.08 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. raised its holdings in Genesco by 0.4% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 909,846 shares of the company’s stock valued at $24,202,000 after acquiring an additional 3,578 shares in the last quarter. State Street Corp raised its holdings 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 acquiring an additional 71,541 shares in the last quarter. Northern Trust Corp raised its holdings in Genesco by 47.5% in the 2nd quarter. Northern Trust Corp now owns 586,814 shares of the company’s stock valued at $19,893,000 after acquiring an additional 188,906 shares in the last quarter. Smith Graham & Co. Investment Advisors LP raised its holdings in Genesco by 25.4% in the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 390,516 shares of the company’s stock valued at $10,388,000 after acquiring an additional 79,120 shares in the last quarter. Finally, Citadel Advisors LLC raised its holdings in Genesco by 369.8% in the 2nd quarter. Citadel Advisors LLC now owns 353,341 shares of the company’s stock valued at $11,978,000 after acquiring an additional 278,134 shares in the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.

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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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Analyst Recommendations for Genesco (NYSE:GCO)

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