Genesco’s (GCO) Hold Rating Reiterated at Jefferies Financial Group

Genesco (NYSE:GCO)‘s stock had its “hold” rating reaffirmed by stock analysts at Jefferies Financial Group in a research report issued on Wednesday, MarketBeat Ratings reports. They currently have a $24.00 price objective on the stock, down from their previous price objective of $27.00. Jefferies Financial Group’s price objective would suggest a potential upside of 9.91% from the company’s previous close.

Separately, Wall Street Zen cut shares of Genesco from a “buy” rating to a “hold” rating in a research note on Tuesday, April 15th.

Genesco Stock Performance

NYSE GCO opened at $21.84 on Wednesday. Genesco has a 1 year low of $16.19 and a 1 year high of $44.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.32. The stock has a market capitalization of $235.39 million, a PE ratio of -8.99 and a beta of 2.14. The company’s 50 day simple moving average is $20.68 and its two-hundred day simple moving average is $31.44.

Genesco (NYSE:GCO) last posted its earnings results on Friday, March 7th. The company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.31 by ($0.05). Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The firm had revenue of $745.95 million during the quarter, compared to analysts’ expectations of $780.43 million. During the same quarter in the prior year, the company earned $2.59 earnings per share. Analysts predict that Genesco will post 0.94 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the firm’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $20.73, for a total transaction of $248,760.00. Following the sale, the insider now owns 1,097,850 shares in the company, valued at approximately $22,758,430.50. This trade represents a 1.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregory A. Sandfort bought 10,974 shares of Genesco stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $22.92 per share, for a total transaction of $251,524.08. Following the acquisition, the director now owns 26,754 shares in the company, valued at $613,201.68. The trade was a 69.54% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 7.09% of the company’s stock.

Hedge Funds Weigh In On Genesco

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers grew its holdings in shares of Genesco by 1.5% during the 4th quarter. Rhumbline Advisers now owns 19,146 shares of the company’s stock valued at $818,000 after purchasing an additional 281 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Genesco by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,392 shares of the company’s stock worth $616,000 after acquiring an additional 650 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Genesco by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 33,737 shares of the company’s stock worth $716,000 after acquiring an additional 702 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Genesco in the 4th quarter worth $35,000. Finally, Wells Fargo & Company MN grew its holdings in Genesco by 28.1% in the 4th quarter. Wells Fargo & Company MN now owns 5,846 shares of the company’s stock worth $250,000 after acquiring an additional 1,281 shares during the last quarter. Institutional investors own 94.51% of the company’s stock.

About Genesco

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories in the United States, Puerto Rico, Canada, the United Kingdom, and the Republic of Ireland. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Genesco Brands.