Genesco (NYSE:GCO) Stock Rating Lowered by Wall Street Zen

Genesco (NYSE:GCO - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group reaffirmed a "hold" rating and issued a $24.00 target price (down from $27.00) on shares of Genesco in a research report on Wednesday, May 21st. Truist Financial began coverage on Genesco in a research report on Wednesday, May 28th. They set a "hold" rating and a $23.00 target price on the stock.

Genesco Stock Up 4.7%

Shares of GCO stock traded up $1.01 on Friday, reaching $22.32. 122,424 shares of the stock were exchanged, compared to its average volume of 297,895. The company has a market capitalization of $240.61 million, a price-to-earnings ratio of -9.19 and a beta of 2.14. The business's 50 day moving average price is $20.56 and its 200 day moving average price is $31.06. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19. Genesco has a twelve month low of $16.19 and a twelve month high of $44.80.

Genesco (NYSE:GCO - Get Free Report) last issued its earnings results on Friday, March 7th. The company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.05). The business had revenue of $745.95 million for the quarter, compared to analyst estimates of $780.43 million. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. During the same period last year, the business posted $2.59 EPS. As a group, sell-side analysts expect that Genesco will post 0.94 earnings per share for the current fiscal year.

Insider Transactions at Genesco

In other Genesco news, Director Gregory A. Sandfort bought 10,974 shares of the company's stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $22.92 per share, for a total transaction of $251,524.08. Following the transaction, the director now owns 26,754 shares of the company's stock, valued at approximately $613,201.68. This trade represents a 69.54% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $20.73, for a total value of $248,760.00. Following the transaction, the insider now directly owns 1,097,850 shares of the company's stock, valued at approximately $22,758,430.50. This trade represents a 1.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.11% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Genesco by 23.9% during the 1st quarter. Vanguard Group Inc. now owns 899,123 shares of the company's stock worth $19,088,000 after purchasing an additional 173,255 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Genesco in the first quarter valued at about $16,163,000. Portolan Capital Management LLC purchased a new stake in Genesco during the fourth quarter worth about $19,847,000. Marshall Wace LLP grew its position in Genesco by 28.6% during the fourth quarter. Marshall Wace LLP now owns 428,143 shares of the company's stock worth $18,303,000 after buying an additional 95,195 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in Genesco by 14.6% in the first quarter. Acadian Asset Management LLC now owns 411,289 shares of the company's stock valued at $8,729,000 after buying an additional 52,391 shares in the last quarter. Institutional investors and hedge funds own 94.51% of the company's stock.

Genesco Company Profile

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.