Genesco (NYSE:GCO) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Genesco (NYSE:GCO) from a hold rating to a buy rating in a research note published on Monday.

Genesco Stock Up 0.3 %

GCO opened at $28.95 on Monday. The firm has a market capitalization of $324.82 million, a P/E ratio of -412.23 and a beta of 2.41. Genesco has a one year low of $23.21 and a one year high of $37.89. The company has a fifty day moving average price of $27.82 and a 200-day moving average price of $27.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.53 and a quick ratio of 0.40.

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

Institutional Investors Weigh In On Genesco

Several hedge funds have recently bought and sold shares of GCO. First Hawaiian Bank raised its holdings in 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 acquiring an additional 8,670 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in Genesco by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 29,246 shares of the company’s stock valued at $756,000 after purchasing an additional 556 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Genesco by 4,977.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,656 shares of the company’s stock worth $95,000 after purchasing an additional 3,584 shares in the last quarter. Pzena Investment Management LLC boosted its stake 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. Finally, Acadian Asset Management LLC lifted its holdings in shares of Genesco by 57.3% in the second quarter. Acadian Asset Management LLC now owns 271,394 shares of the company’s stock worth $7,016,000 after buying 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.