Zacks Investment Research downgraded shares of Genesco Inc. (NYSE:GCO) from a hold rating to a sell rating in a report published on Friday morning, MarketBeat reports.

According to Zacks, “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. “

GCO has been the topic of a number of other research reports. Piper Jaffray reaffirmed a hold rating and set a $67.00 target price on shares of Genesco in a research note on Tuesday, November 3rd. CL King raised Genesco from a buy rating to a strong-buy rating in a research note on Thursday, October 8th. Sterne Agee CRT raised Genesco from a neutral rating to a buy rating and set a $72.00 target price on the stock in a research note on Tuesday, October 13th. Morgan Stanley raised Genesco from an equal weight rating to an overweight rating and upped their target price for the company from $71.00 to $81.00 in a research note on Monday, January 11th. Finally, Jefferies Group dropped their price objective on Genesco from $67.00 to $63.00 and set a hold rating on the stock in a research note on Friday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Genesco currently has an average rating of Hold and an average target price of $68.56.

In other Genesco news, CEO Robert J. Dennis sold 15,000 shares of the stock in a transaction on Wednesday, December 9th. The stock was sold at an average price of $55.80, for a total transaction of $837,000.00. Following the sale, the chief executive officer now owns 173,817 shares of the company’s stock, valued at approximately $9,698,988.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Kocher sold 10,000 shares of the stock in a transaction on Wednesday, December 16th. The shares were sold at an average price of $55.83, for a total value of $558,300.00. Following the sale, the senior vice president now directly owns 64,269 shares in the company, valued at approximately $3,588,138.27. The disclosure for this sale can be found here.

A number of hedge funds recently made changes to their positions in the stock. Eagle Asset Management boosted its stake in shares of Genesco by 82.7% in the third quarter. Eagle Asset Management now owns 5,562,752 shares of the company’s stock valued at $317,466,000 after buying an additional 2,517,940 shares during the period. Dalton Greiner Hartman Maher & Company raised its stake in shares of Genesco by 5.2% in the fourth quarter. Dalton Greiner Hartman Maher & Company now owns 203,766 shares of the company’s stock valued at $11,580,000 after buying an additional 10,042 shares in the last quarter. Smith Graham & Co. Investment Advisors LP raised its stake in shares of Genesco by 7.2% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 107,276 shares of the company’s stock valued at $6,097,000 after buying an additional 7,160 shares in the last quarter. Capstone Asset Management Company raised its stake in shares of Genesco by 27.6% in the fourth quarter. Capstone Asset Management Company now owns 11,423 shares of the company’s stock valued at $649,000 after buying an additional 2,470 shares in the last quarter. Finally, Alpha Windward raised its stake in shares of Genesco by 11.7% in the fourth quarter. Alpha Windward now owns 8,040 shares of the company’s stock valued at $457,000 after buying an additional 840 shares in the last quarter.

Genesco (NYSE:GCO) traded down 1.79% on Friday, hitting $63.27. The stock had a trading volume of 262,654 shares. The firm has a market cap of $1.40 billion and a PE ratio of 14.84. The company has a 50-day moving average price of $57.72 and a 200 day moving average price of $59.56. Genesco has a 52-week low of $50.64 and a 52-week high of $74.74.

Genesco (NYSE:GCO) last released its earnings results on Friday, December 4th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.10. The business had revenue of $774 million for the quarter. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $1.28 earnings per share. Equities analysts forecast that Genesco will post $4.37 earnings per share for the current fiscal year.

Genesco Inc. is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. Journeys Group consists of Journeys, Journeys Kidz, Shi by Journeys and Underground by Journeys retail footwear chains, catalog and e-commerce operations. Schuh Group consists of the Schuh retail footwear chain and e-commerce operations. Lids Sports Group consists of Lids, the Lids Locker Room and Lids Clubhouse businesses, Locker Room, Lids Team Sports, and headwear and accessory stores. Johnston & Murphy Group consists of Johnston & Murphy retail operations, catalog and e-commerce operations and wholesale distribution of products under the Johnston & Murphy and Trask brands. Licensed Brands, consists of Dockers Footwear, sourced and marketed under a license from Levi Strauss & Company and SureGrip Footwear, occupational footwear sold directly to consumers and other brands.

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