Shares of Genesco Inc. (NYSE:GCO) rose 14.1% on Friday . The company traded as high as $29.85 and last traded at $29.60. Approximately 761,373 shares were traded during mid-day trading, an increase of 92% from the average daily volume of 396,197 shares. The stock had previously closed at $25.95.
GCO has been the topic of a number of recent analyst reports. Piper Jaffray Companies reissued a “buy” rating and issued a $39.00 price objective on shares of Genesco in a research report on Sunday, October 1st. ValuEngine raised shares of Genesco from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. SunTrust Banks, Inc. set a $33.00 target price on shares of Genesco and gave the stock a “buy” rating in a research report on Monday, October 16th. Morgan Stanley reduced their target price on shares of Genesco from $38.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 13th. Finally, Jefferies Group LLC set a $48.00 target price on shares of Genesco and gave the stock a “hold” rating in a research report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Genesco currently has an average rating of “Hold” and a consensus target price of $32.71.
The firm has a market cap of $518.89, a price-to-earnings ratio of 7.37, a PEG ratio of 0.76 and a beta of 1.27. The company has a current ratio of 2.38, a quick ratio of 0.47 and a debt-to-equity ratio of 0.21.
Genesco (NYSE:GCO) last announced its earnings results on Thursday, August 31st. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.04). The firm had revenue of $616.50 million during the quarter, compared to analyst estimates of $626.93 million. Genesco had a net margin of 2.43% and a return on equity of 7.36%. Genesco’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned $0.34 earnings per share. analysts forecast that Genesco Inc. will post 3.46 EPS for the current fiscal year.
In other news, Chairman Robert J. Dennis bought 25,000 shares of the stock in a transaction on Wednesday, September 6th. The stock was bought at an average cost of $23.81 per share, for a total transaction of $595,250.00. Following the completion of the purchase, the chairman now directly owns 224,935 shares in the company, valued at $5,355,702.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mimi Eckel Vaughn bought 10,000 shares of the stock in a transaction on Wednesday, September 6th. The stock was purchased at an average price of $24.16 per share, with a total value of $241,600.00. Following the completion of the purchase, the senior vice president now owns 87,140 shares of the company’s stock, 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.
Large investors have recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its stake in shares of Genesco by 77.8% during the second 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. PNC Financial Services Group Inc. lifted its position in Genesco by 44.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock valued at $142,000 after purchasing an additional 775 shares during the period. Tower Research Capital LLC TRC acquired a new position in Genesco during the second quarter valued at $144,000. Public Employees Retirement System of Ohio lifted its position in Genesco by 16.9% during the second 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 period. Finally, First Quadrant L P CA acquired a new position in Genesco during the second quarter valued at $153,000. Institutional investors and hedge funds own 94.65% 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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