Genesco (NYSE:GCO) Downgraded to “Hold” at StockNews.com

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

Genesco Trading Down 2.5 %

Genesco stock opened at $26.71 on Friday. The firm has a 50-day moving average price of $28.09 and a two-hundred day moving average price of $27.07. Genesco has a 52-week low of $23.21 and a 52-week high of $37.89. The firm has a market capitalization of $310.53 million, a price-to-earnings ratio of -13.70 and a beta of 2.40. The company has a quick ratio of 0.40, a current ratio of 1.53 and a debt-to-equity ratio of 0.15.

Genesco (NYSE:GCO) last issued its quarterly earnings results on Friday, September 6th. The company reported ($0.83) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $525.19 million for the quarter, compared to analysts’ expectations of $512.19 million. Sell-side analysts expect that Genesco will post 0.66 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GCO. BNP Paribas Financial Markets raised its position in shares of Genesco by 54.2% during the first quarter. BNP Paribas Financial Markets now owns 36,283 shares of the company’s stock worth $1,021,000 after purchasing an additional 12,754 shares during the period. Empowered Funds LLC boosted its stake in shares of Genesco by 7.9% during the 1st quarter. Empowered Funds LLC now owns 31,089 shares of the company’s stock valued at $875,000 after buying an additional 2,275 shares during the period. First Hawaiian Bank grew its holdings in shares of Genesco by 108.2% during the 2nd quarter. First Hawaiian Bank now owns 16,680 shares of the company’s stock valued at $431,000 after acquiring an additional 8,670 shares in the last quarter. SummerHaven Investment Management LLC increased its stake 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 worth $756,000 after acquiring an additional 556 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Genesco by 4,977.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,656 shares of the company’s stock worth $95,000 after acquiring an additional 3,584 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.