Genesco (NYSE:GCO) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Genesco (NYSE:GCO) from a hold rating to a buy rating in a research report sent to investors on Monday.

Genesco Stock Up 2.3 %

GCO opened at $30.25 on Monday. Genesco has a twelve month low of $23.21 and a twelve month high of $37.89. The firm’s 50-day simple moving average is $27.58 and its 200-day simple moving average is $27.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.40 and a current ratio of 1.53. The firm has a market cap of $339.41 million, a price-to-earnings ratio of -422.37 and a beta of 2.41.

Genesco (NYSE:GCO) last issued its quarterly earnings data on Friday, September 6th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $512.19 million. Equities research analysts anticipate that Genesco will post 0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Genesco

A number of hedge funds have recently added to or reduced their stakes in GCO. First Hawaiian Bank lifted its position in 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 purchasing an additional 8,670 shares during the period. SummerHaven Investment Management LLC grew its position in shares of Genesco by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 29,246 shares of the company’s stock worth $756,000 after buying an additional 556 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Genesco by 4,977.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,656 shares of the company’s stock worth $95,000 after buying an additional 3,584 shares during the period. Pzena Investment Management LLC grew its position 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 period. Finally, Acadian Asset Management LLC grew its position in shares of Genesco by 57.3% during the 2nd quarter. Acadian Asset Management LLC now owns 271,394 shares of the company’s stock worth $7,016,000 after buying an additional 98,901 shares during the period. 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.