StockNews.com Downgrades Genesco (NYSE:GCO) to Hold

Genesco (NYSE:GCO) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Genesco Stock Performance

NYSE:GCO opened at $27.44 on Friday. Genesco has a fifty-two week low of $23.21 and a fifty-two week high of $37.89. The firm has a market capitalization of $319.02 million, a PE ratio of -14.07 and a beta of 2.40. 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 stock’s fifty day moving average is $28.16 and its 200 day moving average is $27.07.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Friday, September 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping 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 business had revenue of $525.19 million during the quarter, compared to the consensus estimate of $512.19 million. On average, sell-side analysts anticipate that Genesco will post 0.66 earnings per share for the current year.

Hedge Funds Weigh In On Genesco

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in shares of Genesco by 54.2% during the 1st quarter. BNP Paribas Financial Markets now owns 36,283 shares of the company’s stock worth $1,021,000 after buying an additional 12,754 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Genesco by 7.9% in the 1st quarter. Empowered Funds LLC now owns 31,089 shares of the company’s stock valued at $875,000 after purchasing an additional 2,275 shares in the last quarter. First Hawaiian Bank lifted its position 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 period. SummerHaven Investment Management LLC boosted its stake in shares of Genesco by 1.9% during the second 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Genesco by 4,977.8% during 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 during the period. 94.51% of the stock is owned by hedge funds and other institutional investors.

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.