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

Genesco (NYSE:GCO) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Genesco Price Performance

Shares of GCO opened at $33.59 on Thursday. Genesco has a one year low of $23.21 and a one year high of $37.89. The stock’s fifty day moving average is $28.70 and its 200-day moving average is $27.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.40 and a current ratio of 1.53. The firm has a market capitalization of $376.95 million, a price-to-earnings ratio of -479.86 and a beta of 2.41.

Genesco (NYSE:GCO) last released its earnings results on Friday, September 6th. The company reported ($0.83) EPS for the quarter, beating 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 firm had revenue of $525.19 million for the quarter, compared to analysts’ expectations of $512.19 million. Equities analysts anticipate that Genesco will post 0.66 EPS for the current year.

Institutional Trading of Genesco

Hedge funds and other institutional investors have recently modified their holdings of the company. First Hawaiian Bank grew its stake in shares of Genesco by 108.2% in the 2nd quarter. First Hawaiian Bank now owns 16,680 shares of the company’s stock worth $431,000 after purchasing an additional 8,670 shares during the last quarter. SummerHaven Investment Management LLC grew its position in Genesco by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 29,246 shares of the company’s stock worth $756,000 after buying an additional 556 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Genesco by 4,977.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,656 shares of the company’s stock valued at $95,000 after buying an additional 3,584 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Genesco by 64.1% during the 2nd quarter. Pzena Investment Management LLC now owns 1,221,342 shares of the company’s stock valued at $31,584,000 after acquiring an additional 477,166 shares during the last quarter. Finally, Acadian Asset Management LLC boosted 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 acquiring an additional 98,901 shares in the last quarter. Institutional investors own 94.51% of the company’s stock.

About Genesco

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.