Genesco (NYSE:GCO) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Genesco (NYSE:GCO) from a buy rating to a hold rating in a research report released on Friday.

Genesco Stock Performance

NYSE GCO opened at $27.10 on Friday. The business has a 50 day moving average price of $39.79 and a 200 day moving average price of $34.23. The company has a market capitalization of $303.81 million, a P/E ratio of -11.15 and a beta of 2.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.32. Genesco has a 1-year low of $23.21 and a 1-year high of $44.80.

Genesco (NYSE:GCO) last announced its earnings results on Friday, March 7th. The company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.05). The company had revenue of $745.95 million for the quarter, compared to analyst estimates of $780.43 million. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. During the same quarter last year, the company posted $2.59 EPS. Sell-side analysts expect that Genesco will post 0.94 EPS for the current fiscal year.

Insider Buying and Selling at Genesco

In other news, VP Daniel E. Ewoldsen sold 4,000 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $42.68, for a total transaction of $170,720.00. Following the sale, the vice president now owns 41,358 shares in the company, valued at $1,765,159.44. This trade represents a 8.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Genesco

Several hedge funds have recently made changes to their positions in GCO. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Genesco during the fourth quarter worth $35,000. Point72 DIFC Ltd boosted its holdings in shares of Genesco by 1,627.4% during the third quarter. Point72 DIFC Ltd now owns 1,641 shares of the company’s stock worth $45,000 after purchasing an additional 1,546 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Genesco by 54.9% during the third quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock worth $50,000 after purchasing an additional 657 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Genesco during the fourth quarter worth $111,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Genesco by 84.6% during the third quarter. Meeder Asset Management Inc. now owns 8,035 shares of the company’s stock worth $218,000 after purchasing an additional 3,683 shares during the last quarter. 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.