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

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

Genesco Trading Down 16.4 %

Shares of GCO stock opened at $27.10 on Friday. Genesco has a 12-month low of $23.21 and a 12-month high of $44.80. The company has a market capitalization of $303.81 million, a P/E ratio of -11.15 and a beta of 2.41. The firm has a 50-day moving average price of $39.79 and a 200 day moving average price of $34.29. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19.

Genesco (NYSE:GCO) last announced its earnings results on Friday, March 7th. The company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $745.95 million during the quarter, compared to the consensus estimate of $780.43 million. During the same period in the prior year, the firm posted $2.59 earnings per share. Research analysts forecast that Genesco will post 0.94 earnings per share for the current fiscal year.

Insider Transactions at Genesco

In related news, VP Daniel E. Ewoldsen sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $42.68, for a total transaction of $170,720.00. Following the completion of the transaction, the vice president now owns 41,358 shares in the company, valued at approximately $1,765,159.44. The trade was a 8.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GCO. Olympiad Research LP acquired a new position in Genesco during the third quarter valued at approximately $222,000. Empowered Funds LLC boosted its holdings in shares of Genesco by 5.3% in the third quarter. Empowered Funds LLC now owns 58,548 shares of the company’s stock valued at $1,591,000 after buying an additional 2,948 shares during the period. Quest Partners LLC boosted its holdings 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 buying an additional 657 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Genesco by 84.6% in the third quarter. Meeder Asset Management Inc. now owns 8,035 shares of the company’s stock valued at $218,000 after buying an additional 3,683 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Genesco by 139.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,279 shares of the company’s stock valued at $986,000 after buying an additional 21,158 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.