Genesco (NYSE:GCO) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Genesco (NYSE:GCO) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Genesco Trading Down 3.0 %

Shares of GCO opened at $33.59 on Thursday. The business’s 50-day moving average price is $28.70 and its 200 day moving average price is $27.75. The company has a current ratio of 1.53, a quick ratio of 0.40 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $376.88 million, a P/E ratio of -479.79 and a beta of 2.41. Genesco has a 1-year low of $23.21 and a 1-year high of $37.89.

Genesco (NYSE:GCO) last released its earnings results on Friday, September 6th. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($1.12) by $0.29. Genesco had a negative net margin of 0.03% and a positive return on equity of 0.49%. The business had revenue of $525.19 million for the quarter, compared to the consensus estimate of $512.19 million. Analysts expect that Genesco will post 0.66 earnings per share for the current year.

Institutional Investors Weigh In On Genesco

A number of institutional investors have recently modified their holdings of the stock. Pzena Investment Management LLC raised its holdings in shares of Genesco by 64.1% during the second quarter. Pzena Investment Management LLC now owns 1,221,342 shares of the company’s stock worth $31,584,000 after acquiring an additional 477,166 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Genesco by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 745,818 shares of the company’s stock valued at $19,286,000 after acquiring an additional 17,664 shares during the last quarter. State Street Corp grew its position in Genesco by 2.1% in the third quarter. State Street Corp now owns 320,691 shares of the company’s stock worth $8,713,000 after acquiring an additional 6,587 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Genesco by 57.3% during the 2nd quarter. Acadian Asset Management LLC now owns 271,394 shares of the company’s stock worth $7,016,000 after purchasing an additional 98,901 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Genesco by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 247,193 shares of the company’s stock valued at $6,718,000 after purchasing an additional 3,157 shares in the last quarter. Institutional investors and hedge funds 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.