Jefferies Financial Group Has Lowered Expectations for Genesco (NYSE:GCO) Stock Price

Genesco (NYSE:GCO) had its target price reduced by analysts at Jefferies Financial Group from $27.00 to $24.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 9.91% from the company’s current price.

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

Genesco Stock Up 3.2%

Shares of GCO opened at $21.84 on Wednesday. The firm has a market cap of $235.39 million, a P/E ratio of -8.99 and a beta of 2.14. The stock has a 50 day simple moving average of $20.68 and a two-hundred day simple moving average of $31.44. 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 1 year low of $16.19 and a 1 year high of $44.80.

Genesco (NYSE:GCO) last released its quarterly earnings data on Friday, March 7th. The company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.05). The company had revenue of $745.95 million for the quarter, compared to analysts’ expectations 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 period last year, the company posted $2.59 EPS. On average, analysts forecast that Genesco will post 0.94 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Genesco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GCO. Nomura Holdings Inc. purchased a new stake in Genesco in the first quarter worth $16,163,000. Portolan Capital Management LLC purchased a new stake in Genesco in the fourth quarter worth $19,847,000. Fund 1 Investments LLC lifted its stake in Genesco by 1,045.4% in the fourth quarter. Fund 1 Investments LLC now owns 242,965 shares of the company’s stock worth $10,387,000 after acquiring an additional 221,752 shares during the period. Vanguard Group Inc. lifted its stake in Genesco by 23.9% in the first quarter. Vanguard Group Inc. now owns 899,123 shares of the company’s stock worth $19,088,000 after acquiring an additional 173,255 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Genesco by 4,730.7% in the first quarter. SG Americas Securities LLC now owns 125,212 shares of the company’s stock worth $2,658,000 after purchasing an additional 122,620 shares in the last quarter. Hedge funds and other 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.