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

StockNews.com downgraded shares of Genesco (NYSE:GCO) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Genesco Stock Up 5.2 %

Shares of GCO opened at $34.62 on Thursday. The stock has a market cap of $388.44 million, a price-to-earnings ratio of -494.50 and a beta of 2.41. 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 12 month low of $23.21 and a 12 month high of $37.89. The company has a 50-day moving average price of $28.57 and a two-hundred day moving average price of $27.68.

Genesco (NYSE:GCO) last announced its quarterly earnings results on Friday, September 6th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.29. The firm had revenue of $525.19 million during 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%. Equities analysts predict that Genesco will post 0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Centiva Capital LP lifted its stake in Genesco by 4.3% during the third quarter. Centiva Capital LP now owns 8,755 shares of the company’s stock worth $238,000 after purchasing an additional 357 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Genesco by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 29,246 shares of the company’s stock valued at $756,000 after acquiring an additional 556 shares during the last quarter. Quest Partners LLC raised its stake in shares of Genesco by 54.9% in the third quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock valued at $50,000 after acquiring an additional 657 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Genesco by 8.4% in the third quarter. Franklin Resources Inc. now owns 11,108 shares of the company’s stock valued at $313,000 after acquiring an additional 859 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Genesco in the second quarter valued at approximately $27,000. Institutional investors own 94.51% of the company’s stock.

Genesco Company Profile

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.