Genesco (NYSE:GCO) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Genesco (NYSE:GCO) from a hold rating to a buy rating in a report issued on Friday morning.

Genesco Price Performance

Genesco stock opened at $27.36 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.40 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $28.10 and a 200 day moving average price of $26.97. Genesco has a 12-month low of $23.21 and a 12-month high of $37.89. The stock has a market cap of $318.09 million, a P/E ratio of -14.03 and a beta of 2.40.

Genesco (NYSE:GCO) last announced its quarterly earnings results on Friday, September 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.29. Genesco had a negative net margin of 0.03% and a positive return on equity of 0.49%. The business had revenue of $525.19 million during the quarter, compared to the consensus estimate of $512.19 million. Sell-side analysts anticipate that Genesco will post 0.66 earnings per share for the current year.

Institutional Trading of Genesco

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP boosted its stake in Genesco by 83.9% during the fourth quarter. GSA Capital Partners LLP now owns 68,943 shares of the company’s stock worth $2,427,000 after buying an additional 31,456 shares during the period. Gate City Capital Management LLC acquired a new position in shares of Genesco in the 4th quarter worth approximately $5,162,000. American Century Companies Inc. boosted its position in shares of Genesco by 20.2% during the 2nd quarter. American Century Companies Inc. now owns 157,064 shares of the company’s stock worth $4,062,000 after purchasing an additional 26,436 shares during the period. Acadian Asset Management LLC increased its holdings in Genesco by 57.3% in 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 last quarter. Finally, Dimensional Fund Advisors LP raised its position in Genesco by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 745,818 shares of the company’s stock valued at $19,286,000 after purchasing an additional 17,664 shares during the period. 94.51% of the stock is owned by institutional investors and hedge funds.

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.