Genesco (NYSE:GCO) Upgraded to Buy at StockNews.com

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

Genesco Trading Up 6.9 %

GCO traded up $1.82 during trading on Friday, reaching $28.20. The company had a trading volume of 153,409 shares, compared to its average volume of 136,952. The firm’s 50-day simple moving average is $28.10 and its 200 day simple moving average is $26.96. 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 company has a market cap of $327.85 million, a price-to-earnings ratio of -14.46 and a beta of 2.40. Genesco has a 12-month low of $23.21 and a 12-month high of $37.89.

Genesco (NYSE:GCO) last released its earnings results on Friday, September 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.29. The company had revenue of $525.19 million during the quarter, compared to analyst estimates of $512.19 million. Genesco had a positive return on equity of 0.49% and a negative net margin of 0.03%. Equities research analysts anticipate that Genesco will post 0.66 earnings per share for the current year.

Institutional Trading of Genesco

A number of institutional investors and hedge funds have recently made changes to their positions in GCO. GSA Capital Partners LLP grew its stake in Genesco by 83.9% in the 4th quarter. GSA Capital Partners LLP now owns 68,943 shares of the company’s stock valued at $2,427,000 after buying an additional 31,456 shares during the last quarter. Gate City Capital Management LLC acquired a new stake in shares of Genesco in the fourth quarter valued at about $5,162,000. American Century Companies Inc. increased its stake in shares of Genesco by 20.2% in the second quarter. American Century Companies Inc. now owns 157,064 shares of the company’s stock worth $4,062,000 after purchasing an additional 26,436 shares during the period. Acadian Asset Management LLC lifted its position in shares of Genesco by 57.3% during the 2nd quarter. Acadian Asset Management LLC now owns 271,394 shares of the company’s stock worth $7,016,000 after purchasing an additional 98,901 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Genesco by 54.2% during the 1st quarter. BNP Paribas Financial Markets now owns 36,283 shares of the company’s stock valued at $1,021,000 after purchasing an additional 12,754 shares during the period. Institutional investors and hedge funds 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.