Genesco (NYSE:GCO) Lowered to “Hold” Rating by StockNews.com

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

Genesco Price Performance

Shares of Genesco stock opened at $34.62 on Thursday. 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 firm has a fifty day simple moving average of $28.57 and a 200-day simple moving average of $27.68. The stock has a market capitalization of $388.44 million, a price-to-earnings ratio of -494.50 and a beta of 2.41. Genesco has a 1-year low of $23.21 and a 1-year high of $37.89.

Genesco (NYSE:GCO) last released 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. The company 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%. On average, sell-side analysts expect that Genesco will post 0.66 earnings per share for the current year.

Institutional Investors Weigh In On Genesco

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Centiva Capital LP grew its position in shares of Genesco by 4.3% in the third quarter. Centiva Capital LP now owns 8,755 shares of the company’s stock valued at $238,000 after purchasing an additional 357 shares during the last quarter. SummerHaven Investment Management LLC grew its position 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 purchasing an additional 556 shares during the last quarter. Quest Partners LLC lifted 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 buying an additional 657 shares during the period. Franklin Resources Inc. lifted 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 buying an additional 859 shares during the period. Finally, Quarry LP bought a new stake in shares of Genesco in the second quarter valued at about $27,000. 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.