Shares of Genesco dipped Thursday after the company reported second-quarter results that topped analysts’ revenue estimates.

In early afternoon trading, the stock was priced at $29, down 12.09 percent (the equivalent drop of $3.99 per share).

The drop follows the Nashville-based footwear-focused company having seen its stock add 29.88 percent of value during the past five trading sessions.

Of note, and prior to the Q2 report release, Seaport Research Partners, which analyzes Genesco stock, upgraded its outlook for the shares to “buy” from “neutral,” setting a $38 price target.

Genesco (ticker: GCO ) reported a quarterly loss of $1.14 per share versus the Zacks consensus estimate of a loss of $1.25 per share. This compares to a loss of $0.83 per share a year ago.

According to a com

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