Genesco (NYSE:GCO) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Genesco (NYSE:GCO) from a hold rating to a buy rating in a report released on Monday morning.

Genesco Stock Up 0.3 %

Shares of NYSE GCO opened at $28.95 on Monday. The stock has a market capitalization of $324.82 million, a price-to-earnings ratio of -412.23 and a beta of 2.41. Genesco has a 12-month low of $23.21 and a 12-month high of $37.89. 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 firm’s 50-day moving average price is $27.82 and its 200-day moving average price is $27.41.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Friday, September 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.12) by $0.29. The business had revenue of $525.19 million during the quarter, compared to analyst estimates of $512.19 million. Genesco had a positive return on equity of 0.49% and a negative net margin of 0.03%. On average, equities research analysts anticipate that Genesco will post 0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Genesco

Large investors have recently made changes to their positions in the company. Pzena Investment Management LLC raised its position in Genesco by 64.1% in the 2nd quarter. Pzena Investment Management LLC now owns 1,221,342 shares of the company’s stock worth $31,584,000 after purchasing an additional 477,166 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Genesco by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 745,818 shares of the company’s stock worth $19,286,000 after buying an additional 17,664 shares during the period. State Street Corp lifted its stake in shares of Genesco by 2.1% during the 3rd 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 during the last quarter. Acadian Asset Management LLC boosted its holdings in Genesco by 57.3% during the 2nd quarter. Acadian Asset Management LLC now owns 271,394 shares of the company’s stock valued at $7,016,000 after acquiring an additional 98,901 shares during the period. Finally, Geode Capital Management LLC grew its position in Genesco by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 247,193 shares of the company’s stock valued at $6,718,000 after acquiring an additional 3,157 shares during the last quarter. 94.51% of the stock is owned by hedge funds and other institutional investors.

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.