Genesco (NYSE:GCO) Upgraded at StockNews.com

StockNews.com upgraded shares of Genesco (NYSE:GCO) from a hold rating to a buy rating in a research note published on Monday.

Genesco Price Performance

GCO opened at $20.59 on Monday. Genesco has a twelve month low of $16.19 and a twelve month high of $44.80. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19. The firm has a market cap of $227.27 million, a price-to-earnings ratio of -8.47 and a beta of 2.25. The company has a fifty day simple moving average of $29.28 and a 200 day simple moving average of $32.93.

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

Insider Buying and Selling at Genesco

In other news, Director Gregory A. Sandfort acquired 10,974 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average cost of $22.92 per share, for a total transaction of $251,524.08. Following the completion of the acquisition, the director now owns 26,754 shares in the company, valued at approximately $613,201.68. The trade was a 69.54 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of Genesco stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $20.73, for a total transaction of $248,760.00. Following the completion of the sale, the insider now owns 1,097,850 shares of the company’s stock, valued at $22,758,430.50. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genesco

A number of hedge funds have recently bought and sold shares of the company. Portolan Capital Management LLC acquired a new position in Genesco during the 4th quarter valued at $19,847,000. Marshall Wace LLP lifted its stake in shares of Genesco by 28.6% in the fourth quarter. Marshall Wace LLP now owns 428,143 shares of the company’s stock valued at $18,303,000 after buying an additional 95,195 shares during the period. State Street Corp increased its stake in Genesco by 2.1% during the third quarter. State Street Corp now owns 320,691 shares of the company’s stock valued at $8,713,000 after acquiring an additional 6,587 shares during the period. American Century Companies Inc. raised its holdings in Genesco by 25.3% in the 4th quarter. American Century Companies Inc. now owns 276,807 shares of the company’s stock valued at $11,833,000 after acquiring an additional 55,977 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Genesco by 124.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 251,142 shares of the company’s stock worth $6,824,000 after acquiring an additional 139,485 shares during the period. 94.51% of the stock is currently owned by 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.