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

StockNews.com downgraded shares of Genesco (NYSE:GCO) from a buy rating to a hold rating in a research note released on Thursday morning.

Genesco Price Performance

GCO opened at $33.59 on Thursday. The company has a quick ratio of 0.40, a current ratio of 1.53 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $28.70 and its 200 day moving average price is $27.75. Genesco has a fifty-two week low of $23.21 and a fifty-two week high of $37.89. The firm has a market cap of $376.88 million, a price-to-earnings ratio of -479.79 and a beta of 2.41.

Genesco (NYSE:GCO) last issued 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. 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 the consensus estimate of $512.19 million. As a group, sell-side analysts expect that Genesco will post 0.66 earnings per share for the current year.

Institutional Investors Weigh In On Genesco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in shares of Genesco by 8.4% during the 3rd quarter. Franklin Resources Inc. now owns 11,108 shares of the company’s stock valued at $313,000 after purchasing an additional 859 shares during the period. Barclays PLC grew its holdings in Genesco by 103.1% during the third quarter. Barclays PLC now owns 20,730 shares of the company’s stock worth $563,000 after acquiring an additional 10,521 shares during the period. Geode Capital Management LLC raised its position in Genesco by 1.3% in the third quarter. Geode Capital Management LLC now owns 247,193 shares of the company’s stock worth $6,718,000 after acquiring an additional 3,157 shares in the last quarter. State Street Corp lifted its holdings in Genesco by 2.1% in the 3rd quarter. State Street Corp now owns 320,691 shares of the company’s stock valued at $8,713,000 after acquiring an additional 6,587 shares during the last quarter. Finally, Point72 DIFC Ltd boosted its position in shares of Genesco by 1,627.4% during the 3rd quarter. Point72 DIFC Ltd now owns 1,641 shares of the company’s stock valued at $45,000 after purchasing an additional 1,546 shares in the last quarter. Institutional investors 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.