Genesco (NYSE:GCO) Raised 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.

Genesco Stock Up 6.9 %

GCO stock opened at $28.20 on Friday. Genesco has a 52 week low of $23.21 and a 52 week high of $37.89. The firm has a 50-day simple moving average of $28.10 and a 200-day simple moving average of $26.97. The company has a quick ratio of 0.40, a current ratio of 1.53 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $327.85 million, a P/E ratio of -14.46 and a beta of 2.40.

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

Hedge Funds Weigh In On Genesco

A number of large investors have recently bought and sold shares of the company. Pzena Investment Management LLC raised its stake in shares of Genesco by 64.1% during the 2nd quarter. Pzena Investment Management LLC now owns 1,221,342 shares of the company’s stock worth $31,584,000 after buying an additional 477,166 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Genesco by 2.4% in the 2nd 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 last quarter. Acadian Asset Management LLC grew its position in Genesco by 57.3% during the second quarter. Acadian Asset Management LLC now owns 271,394 shares of the company’s stock valued at $7,016,000 after acquiring an additional 98,901 shares during the period. American Century Companies Inc. grew its holdings 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. Finally, Gate City Capital Management LLC acquired a new stake in Genesco during the 4th quarter worth approximately $5,162,000. Hedge funds and other 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.