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 report released on Monday morning.

Genesco Stock Performance

Shares of GCO stock traded up $0.18 on Monday, reaching $26.88. The stock had a trading volume of 85,961 shares, compared to its average volume of 132,172. Genesco has a 12 month low of $23.21 and a 12 month high of $37.89. The firm has a market capitalization of $312.51 million, a price-to-earnings ratio of -13.65 and a beta of 2.42. The firm’s 50-day moving average is $26.60 and its two-hundred day moving average is $27.29. The company has a quick ratio of 0.37, a current ratio of 1.65 and a debt-to-equity ratio of 0.11.

Genesco (NYSE:GCO) last released its quarterly earnings data on Friday, May 31st. The company reported ($2.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.66) by $0.56. Genesco had a positive return on equity of 0.40% and a negative net margin of 0.97%. The firm had revenue of $457.60 million for the quarter, compared to analyst estimates of $445.66 million. During the same quarter in the prior year, the company earned ($1.59) earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, research analysts expect that Genesco will post 0.66 EPS for the current fiscal year.

Institutional Trading of Genesco

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pzena Investment Management LLC raised its holdings in 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 acquiring an additional 477,166 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Genesco by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 715,076 shares of the company’s stock worth $25,179,000 after purchasing an additional 33,157 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Genesco by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 680,725 shares of the company’s stock worth $20,980,000 after purchasing an additional 4,159 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Genesco by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 327,616 shares of the company’s stock valued at $11,535,000 after purchasing an additional 21,686 shares during the period. Finally, LSV Asset Management grew its holdings in Genesco by 1.8% in the 4th quarter. LSV Asset Management now owns 282,438 shares of the company’s stock valued at $9,945,000 after buying an additional 4,876 shares in the last quarter. 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.