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

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

Genesco Price Performance

NYSE GCO opened at $24.92 on Friday. The company has a 50-day moving average price of $27.69 and a two-hundred day moving average price of $27.09. Genesco has a 52 week low of $23.21 and a 52 week high of $37.89. The stock has a market cap of $279.60 million, a price-to-earnings ratio of -355.95 and a beta of 2.41. The company has a current ratio of 1.53, a quick ratio of 0.40 and a debt-to-equity ratio of 0.15.

Genesco (NYSE:GCO) last issued 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 positive return on equity of 0.49% and a negative net margin of 0.03%. The business had revenue of $525.19 million during the quarter, compared to the consensus estimate of $512.19 million. Analysts forecast that Genesco will post 0.66 EPS for the current year.

Institutional Investors Weigh In On Genesco

A number of hedge funds and other institutional investors have recently modified their holdings of GCO. Quarry LP bought a new position in Genesco in the 2nd quarter valued at about $27,000. nVerses Capital LLC acquired a new position in shares of Genesco during the third quarter valued at approximately $30,000. CWM LLC raised its holdings in Genesco by 256.4% during the third quarter. CWM LLC now owns 2,363 shares of the company’s stock worth $64,000 after purchasing an additional 1,700 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Genesco by 4,977.8% in the second 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 during the period. Finally, Meeder Asset Management Inc. bought a new position in Genesco during the 2nd quarter valued at $113,000. 94.51% of the stock is currently owned by 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.