Genesco (NYSE:GCO) Shares Gap Down to $48.00


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Genesco Inc. (NYSE:GCO)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $48.00, but opened at $46.43. Genesco shares last traded at $46.21, with a volume of 103 shares.

GCO has been the topic of a number of analyst reports. Zacks Investment Research cut Genesco from a “buy” rating to a “hold” rating in a research note on Tuesday, March 16th. TheStreet upgraded Genesco from a “d+” rating to a “c-” rating in a research note on Friday, February 26th. Finally, Pivotal Research increased their price target on Genesco from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, March 5th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $43.25.

The business has a 50 day moving average of $47.09 and a two-hundred day moving average of $33.77. The company has a current ratio of 1.35, a quick ratio of 0.49 and a debt-to-equity ratio of 0.07. The firm has a market cap of $700.58 million, a P/E ratio of -5.96 and a beta of 2.14.

Genesco (NYSE:GCO) last issued its quarterly earnings data on Thursday, March 11th. The company reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.82. Genesco had a negative return on equity of 2.50% and a negative net margin of 6.06%. The firm had revenue of $636.80 million for the quarter, compared to analyst estimates of $617.48 million. During the same period in the prior year, the firm posted $3.09 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, sell-side analysts predict that Genesco Inc. will post -2.02 EPS for the current year.

In other news, Director Thurgood Marshall, Jr. sold 2,000 shares of the stock in a transaction on Tuesday, January 12th. The stock was sold at an average price of $39.15, for a total transaction of $78,300.00. Following the sale, the director now directly owns 14,277 shares of the company’s stock, valued at approximately $558,944.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Marty G. Dickens sold 5,000 shares of the stock in a transaction on Thursday, March 18th. The stock was sold at an average price of $48.00, for a total value of $240,000.00. Following the sale, the director now directly owns 23,807 shares in the company, valued at $1,142,736. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Inspire Advisors LLC bought a new position in shares of Genesco during the fourth quarter worth about $28,000. Point72 Hong Kong Ltd bought a new position in shares of Genesco during the third quarter worth about $51,000. Public Employees Retirement System of Ohio raised its position in shares of Genesco by 13.4% during the third quarter. Public Employees Retirement System of Ohio now owns 6,673 shares of the company’s stock worth $144,000 after acquiring an additional 789 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new stake in Genesco during the fourth quarter worth approximately $203,000. Finally, Wedge Capital Management L L P NC acquired a new stake in Genesco during the fourth quarter worth approximately $210,000. 92.79% of the stock is currently owned by institutional investors and hedge funds.

About Genesco (NYSE:GCO)

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

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