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

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

Genesco Stock Performance

Genesco stock opened at $33.59 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.53 and a quick ratio of 0.40. The company has a market cap of $376.95 million, a P/E ratio of -479.86 and a beta of 2.41. Genesco has a fifty-two week low of $23.21 and a fifty-two week high of $37.89. The firm’s 50 day simple moving average is $28.70 and its 200-day simple moving average is $27.73.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Friday, September 6th. The company reported ($0.83) earnings per share 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 analysts’ expectations of $512.19 million. Genesco had a negative net margin of 0.03% and a positive return on equity of 0.49%. As a group, equities research analysts predict that Genesco will post 0.66 EPS for the current year.

Institutional Trading of Genesco

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

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.