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

Genesco (NYSE:GCOGet Rating) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, Seaport Res Ptn lowered Genesco from a “buy” rating to a “neutral” rating in a report on Tuesday, August 30th.

Genesco Stock Up 11.4 %

NYSE:GCO opened at $47.81 on Wednesday. Genesco has a 12-month low of $37.54 and a 12-month high of $73.72. The company has a quick ratio of 0.42, a current ratio of 1.57 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $624.83 million, a P/E ratio of 6.27 and a beta of 1.93. The stock’s fifty day simple moving average is $43.87 and its 200-day simple moving average is $52.88.

Genesco (NYSE:GCOGet Rating) last posted its quarterly earnings results on Thursday, September 1st. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.33. Genesco had a return on equity of 16.53% and a net margin of 4.51%. The business had revenue of $535.30 million for the quarter, compared to analyst estimates of $539.89 million. During the same period last year, the company earned $1.05 EPS. The firm’s revenue was down 3.6% on a year-over-year basis. Equities research analysts expect that Genesco will post 6.52 earnings per share for the current year.

Institutional Trading of Genesco

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Genesco by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,042,152 shares of the company’s stock valued at $40,978,000 after purchasing an additional 30,324 shares in the last quarter. State Street Corp increased its position in shares of Genesco by 3.8% in the second quarter. State Street Corp now owns 551,818 shares of the company’s stock valued at $27,541,000 after acquiring an additional 20,290 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Genesco by 0.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 261,189 shares of the company’s stock valued at $16,614,000 after acquiring an additional 2,399 shares during the last quarter. Invesco Ltd. increased its position in shares of Genesco by 4.8% in the first quarter. Invesco Ltd. now owns 245,684 shares of the company’s stock valued at $15,629,000 after acquiring an additional 11,156 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Genesco by 8.4% in the first quarter. Acadian Asset Management LLC now owns 111,132 shares of the company’s stock valued at $7,066,000 after acquiring an additional 8,639 shares during the last quarter. 94.04% of the stock is currently owned by institutional investors.

About Genesco

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Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

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