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

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

Genesco Trading Down 2.5 %

GCO opened at $29.48 on Monday. The firm has a market capitalization of $330.77 million, a P/E ratio of -421.08 and a beta of 2.41. The firm’s 50 day moving average is $27.67 and its 200-day moving average is $27.37. The company has a quick ratio of 0.40, a current ratio of 1.53 and a debt-to-equity ratio of 0.15. Genesco has a 52-week low of $23.21 and a 52-week high of $37.89.

Genesco (NYSE:GCO) last released its quarterly earnings results 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. The firm had revenue of $525.19 million for the quarter, compared to the consensus estimate of $512.19 million. Genesco had a negative net margin of 0.03% and a positive return on equity of 0.49%. Analysts expect that Genesco will post 0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Genesco

A number of institutional investors have recently made changes to their positions in the business. Pzena Investment Management LLC increased its stake in shares of Genesco by 64.1% in the second quarter. Pzena Investment Management LLC now owns 1,221,342 shares of the company’s stock worth $31,584,000 after buying an additional 477,166 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Genesco by 57.3% during the 2nd quarter. Acadian Asset Management LLC now owns 271,394 shares of the company’s stock valued at $7,016,000 after acquiring an additional 98,901 shares during the last quarter. Martingale Asset Management L P acquired a new position in Genesco during the 3rd quarter worth $842,000. AQR Capital Management LLC increased its position in shares of Genesco by 38.0% in the 2nd quarter. AQR Capital Management LLC now owns 102,986 shares of the company’s stock worth $2,663,000 after purchasing an additional 28,374 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Genesco by 20.2% in the 2nd quarter. American Century Companies Inc. now owns 157,064 shares of the company’s stock valued at $4,062,000 after purchasing an additional 26,436 shares in the last quarter. 94.51% of the stock is owned by institutional investors and hedge funds.

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.