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

StockNews.com downgraded shares of Genesco (NYSE:GCO) from a buy rating to a hold rating in a research note issued to investors on Friday.

Genesco Trading Down 2.6 %

Shares of GCO opened at $26.69 on Friday. 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 $310.30 million, a price-to-earnings ratio of -13.69 and a beta of 2.40. The stock has a fifty day moving average price of $28.09 and a two-hundred day moving average price of $27.07. 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, beating analysts’ consensus estimates of ($1.12) by $0.29. Genesco had a positive return on equity of 0.49% and a negative net margin of 0.03%. The business had revenue of $525.19 million during the quarter, compared to analysts’ expectations of $512.19 million. Analysts predict that Genesco will post 0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Pzena Investment Management LLC increased its stake in shares of Genesco by 64.1% in the 2nd quarter. Pzena Investment Management LLC now owns 1,221,342 shares of the company’s stock valued at $31,584,000 after buying an additional 477,166 shares during the period. Dimensional Fund Advisors LP raised its holdings in Genesco by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 745,818 shares of the company’s stock worth $19,286,000 after purchasing an additional 17,664 shares during the last quarter. Acadian Asset Management LLC lifted its position 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 purchasing an additional 98,901 shares during the period. American Century Companies Inc. boosted 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 during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Genesco by 38.0% during the 2nd 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 period. 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.