Genesco (NYSE:GCO) Coverage Initiated at Truist Financial

Research analysts at Truist Financial assumed coverage on shares of Genesco (NYSE:GCO) in a report released on Wednesday. The firm set a “hold” rating and a $23.00 price target on the stock. Truist Financial’s target price would suggest a potential upside of 5.37% from the company’s previous close.

GCO has been the topic of a number of other research reports. Wall Street Zen cut shares of Genesco from a “buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 price objective (down from $27.00) on shares of Genesco in a report on Wednesday, May 21st.

Genesco Stock Down 0.1%

Shares of GCO stock traded down $0.03 on Wednesday, hitting $21.83. The stock had a trading volume of 5,219 shares, compared to its average volume of 213,642. The business has a 50 day moving average of $20.63 and a 200 day moving average of $31.30. The stock has a market cap of $235.31 million, a price-to-earnings ratio of -8.94 and a beta of 2.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.32. Genesco has a 12-month low of $16.19 and a 12-month high of $44.80.

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

Insiders Place Their Bets

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

Institutional Trading of Genesco

Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers increased its holdings in shares of Genesco by 1.5% in the 4th quarter. Rhumbline Advisers now owns 19,146 shares of the company’s stock valued at $818,000 after acquiring an additional 281 shares during the period. Price T Rowe Associates Inc. MD lifted 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 valued at $616,000 after purchasing an additional 650 shares in the last quarter. Bank of New York Mellon Corp lifted 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 valued at $716,000 after purchasing an additional 702 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Genesco during the 4th quarter valued at about $35,000. Finally, Wells Fargo & Company MN increased its position in Genesco by 28.1% during the 4th quarter. Wells Fargo & Company MN now owns 5,846 shares of the company’s stock worth $250,000 after purchasing an additional 1,281 shares in the last quarter. Hedge funds and other institutional investors 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.