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

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

Genesco Price Performance

NYSE GCO traded up $1.27 during trading hours on Monday, reaching $19.27. The company’s stock had a trading volume of 481,172 shares, compared to its average volume of 191,275. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 1.56. The company’s 50-day moving average is $31.17 and its two-hundred day moving average is $33.24. Genesco has a fifty-two week low of $16.41 and a fifty-two week high of $44.80. The stock has a market cap of $212.65 million, a PE ratio of -7.93 and a beta of 2.25.

Genesco (NYSE:GCO) last released its quarterly earnings results on Friday, March 7th. The company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.05). Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. The business had revenue of $745.95 million during the quarter, compared to analyst estimates of $780.43 million. During the same quarter in the prior year, the company earned $2.59 earnings per share. Analysts forecast that Genesco will post 0.94 EPS for the current year.

Insider Activity at Genesco

In other Genesco news, Director Gregory A. Sandfort bought 10,974 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average cost of $22.92 per share, for a total transaction of $251,524.08. Following the completion of the purchase, the director now owns 26,754 shares of the company’s stock, valued at $613,201.68. This trade represents a 69.54 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $20.73, for a total value of $248,760.00. Following the transaction, the insider now owns 1,097,850 shares in the company, valued at $22,758,430.50. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Centiva Capital LP increased its position in Genesco by 4.3% during the third quarter. Centiva Capital LP now owns 8,755 shares of the company’s stock worth $238,000 after purchasing an additional 357 shares during the last quarter. Point72 DIFC Ltd grew its stake 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 buying an additional 1,546 shares during the period. State Street Corp increased its holdings 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 buying an additional 6,587 shares during the last quarter. Barclays PLC raised its position in shares of Genesco by 103.1% in the 3rd quarter. Barclays PLC now owns 20,730 shares of the company’s stock worth $563,000 after buying an additional 10,521 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Genesco by 1.3% in the third 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. Institutional investors and hedge funds 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.