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

StockNews.com downgraded shares of Genesco (NYSE:GCO) from a buy rating to a hold rating in a report released on Wednesday.

Genesco Price Performance

NYSE GCO opened at $36.56 on Wednesday. The business’s fifty day moving average is $40.74 and its 200 day moving average is $34.11. Genesco has a fifty-two week low of $23.21 and a fifty-two week high of $44.80. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 1.56. The company has a market capitalization of $409.94 million, a PE ratio of -15.05 and a beta of 2.35.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Friday, December 6th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.30 by $0.31. The firm had revenue of $596.30 million for the quarter, compared to the consensus estimate of $577.73 million. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 earnings per share. Sell-side analysts predict that Genesco will post 0.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Daniel E. Ewoldsen sold 4,000 shares of Genesco stock in a transaction 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.09% of the company’s stock.

Institutional Investors Weigh In On Genesco

Institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Genesco in the fourth quarter worth about $35,000. Point72 DIFC Ltd lifted its holdings in Genesco by 1,627.4% in the 3rd quarter. Point72 DIFC Ltd now owns 1,641 shares of the company’s stock worth $45,000 after purchasing an additional 1,546 shares in the last quarter. Quest Partners LLC boosted its stake in Genesco by 54.9% in the 3rd quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock worth $50,000 after purchasing an additional 657 shares during the period. SG Americas Securities LLC purchased a new stake in Genesco during the 4th quarter valued at approximately $111,000. Finally, Meeder Asset Management Inc. raised its position in shares of Genesco by 84.6% during 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 last quarter. Hedge funds and other institutional investors 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.