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

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

Genesco Price Performance

Shares of NYSE GCO opened at $27.10 on Friday. The company’s fifty day moving average is $39.79 and its two-hundred day moving average is $34.26. 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 firm has a market capitalization of $303.81 million, a P/E ratio of -11.15 and a beta of 2.41. Genesco has a one year low of $23.21 and a one year high of $44.80.

Genesco (NYSE:GCO) last announced 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). The firm had revenue of $745.95 million for the quarter, compared to analysts’ expectations of $780.43 million. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. During the same period last year, the firm earned $2.59 EPS. Analysts forecast that Genesco will post 0.94 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Daniel E. Ewoldsen sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $42.68, for a total transaction of $170,720.00. Following the completion of the transaction, the vice president now directly owns 41,358 shares of the company’s stock, valued at $1,765,159.44. This trade represents a 8.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 7.09% of the company’s stock.

Institutional Investors Weigh In On Genesco

Large investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Genesco during the 4th quarter worth about $35,000. Point72 DIFC Ltd lifted its holdings 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 worth $45,000 after acquiring an additional 1,546 shares during the period. Quest Partners LLC grew its holdings in Genesco by 54.9% in the third quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock valued at $50,000 after purchasing an additional 657 shares during the period. SG Americas Securities LLC acquired a new position in shares of Genesco in the 4th quarter valued at $111,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Genesco during the 4th quarter worth $234,000. 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.