The stock of Genesco Inc. (NYSE:GCO) is a huge mover today! About 162,494 shares traded hands. Genesco Inc. (NYSE:GCO) has declined 19.48% since March 1, 2016 and is downtrending. It has underperformed by 28.72% the S&P500.
The move comes after 5 months positive chart setup for the $1.11 billion company. It was reported on Oct, 4 by Barchart.com. We have $85.18 PT which if reached, will make NYSE:GCO worth $621.60 million more.
Genesco Inc. (NYSE:GCO) Ratings Coverage
Out of 11 analysts covering Genesco (NYSE:GCO), 2 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 18% are positive. Genesco has been the topic of 18 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Macquarie Research initiated it with “Neutral” rating and $69 target price in Friday, July 24 report. Susquehanna initiated it with “Positive” rating and $57 target price in Friday, September 16 report. The rating was initiated by BB&T Capital with “Hold” on Wednesday, January 27. The stock of Genesco Inc. (NYSE:GCO) has “Neutral” rating given on Thursday, September 3 by Piper Jaffray. The firm has “Neutral” rating given on Tuesday, May 24 by Piper Jaffray. The firm earned “Neutral” rating on Friday, September 2 by Robert W. Baird. The stock of Genesco Inc. (NYSE:GCO) earned “Neutral” rating by Sterne Agee CRT on Tuesday, April 19. The stock of Genesco Inc. (NYSE:GCO) has “Overweight” rating given on Wednesday, January 20 by Piper Jaffray. The rating was upgraded by Zacks to “Strong Sell” on Tuesday, August 4. As per Wednesday, September 2, the company rating was downgraded by Zacks.
According to Zacks Investment Research, “Genesco Inc., a Nashville-based specialty retailer, sells footwear, headwear and accessories in retail stores in the United States and Canada. The Company sells its products principally under the names Journeys, Journeys Kidz, Shi by Journeys, Johnston & Murphy, Underground Station, Hatworld, Lids, Hat Shack, Hat Zone, Head Quarters and Cap Connection, and on internet websites. The Company also sells footwear at wholesale under its Johnston & Murphy brand and under the licensed Dockers brand.”
Insitutional Activity: The institutional sentiment decreased to 0.61 in 2016 Q2. Its down 0.56, from 1.17 in 2016Q1. The ratio worsened, as 21 funds sold all Genesco Inc. shares owned while 76 reduced positions. 26 funds bought stakes while 33 increased positions. They now own 19.00 million shares or 5.16% less from 20.03 million shares in 2016Q1.
Victory Mngmt Incorporated owns 1,071 shares or 0% of their US portfolio. Rice Hall James And Associate Limited, a California-based fund reported 24,026 shares. The British Columbia – Canada-based Pacad Investment Limited has invested 0.03% in Genesco Inc. (NYSE:GCO). Smith Graham & Investment L P has 104,226 shares for 0.92% of their US portfolio. Canada Pension Plan Board, a Ontario – Canada-based fund reported 36,200 shares. Pnc Finance Svcs Gp holds 0% of its portfolio in Genesco Inc. (NYSE:GCO) for 153 shares. Principal Financial Group Inc owns 152,618 shares or 0.01% of their US portfolio. Wedge Cap Management L L P Nc holds 0.13% or 194,253 shares in its portfolio. Royal State Bank Of Canada accumulated 0% or 3,641 shares. Princeton Alpha Mngmt Ltd Partnership owns 14,727 shares or 0.17% of their US portfolio. Credit Suisse Ag holds 0% or 33,882 shares in its portfolio. Pub Employees Retirement Association Of Colorado reported 5,189 shares or 0% of all its holdings. Hbk Invs Lp accumulated 3,500 shares or 0% of the stock. Snyder Capital Mgmt Lp last reported 0.98% of its portfolio in the stock. Tfs Capital Limited Liability Corporation owns 22,650 shares or 0.27% of their US portfolio.
Insider Transactions: Since June 8, 2016, the stock had 4 buys, and 1 sale for $475,754 net activity. BAXTER DAVID bought $256,701 worth of Genesco Inc. (NYSE:GCO) on Tuesday, September 20. $1.09M worth of Genesco Inc. (NYSE:GCO) was sold by Dennis Robert J on Wednesday, June 8. BERRY LEONARD L had bought 2,000 shares worth $102,676 on Friday, September 16. The insider McDermott Kevin Patrick bought 1,000 shares worth $51,390. On Friday, September 9 TEHLE DAVID M bought $199,520 worth of the stock or 4,100 shares.
More news for Genesco Inc. (NYSE:GCO) were recently published by: Fool.com, which released: “Why Shares of Genesco Inc. Tumbled Today” on September 01, 2016. Prnewswire.com‘s article titled: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” and published on September 02, 2016 is yet another important article.
GCO Company Profile
Genesco Inc., incorporated on October 19, 1934, is a retailer and wholesaler of footwear, apparel and accessories. The Firm operates in five divisions: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. The Firm relies on independent third-party manufacturers for production of its footwear products sold at wholesale. The Firm sources footwear and accessory products from foreign manufacturers located in Bangladesh, Brazil, Cambodia, Canada, China, Dominican Republic, El Salvador, France, Germany, Hong Kong, India, Indonesia, Italy, Mexico, the Netherlands, Portugal, Peru, Romania, Taiwan and Vietnam. The Firm operates approximately 2,850 retail footwear, headwear and sports apparel and accessory stores and leased departments located primarily throughout the United States and in Puerto Rico, including over 150 headwear and sports apparel and accessory stores and approximately 80 footwear stores in Canada and over 120 footwear stores in the United Kingdom, the Republic of Ireland and Germany.
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