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

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

Genesco Stock Performance

NYSE:GCO opened at $26.69 on Friday. The firm’s 50-day moving average is $28.09 and its 200-day moving average is $27.07. The company has a market cap of $310.30 million, a price-to-earnings ratio of -13.69 and a beta of 2.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.40 and a current ratio of 1.53. Genesco has a 52-week low of $23.21 and a 52-week high of $37.89.

Genesco (NYSE:GCO) last issued its quarterly earnings results on Friday, September 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate 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 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 earnings per share for the current year.

Hedge Funds Weigh In On Genesco

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in Genesco in the second quarter worth about $27,000. nVerses Capital LLC bought a new position in shares of Genesco during the 3rd quarter worth approximately $30,000. CWM LLC boosted its stake in Genesco by 256.4% in the 3rd quarter. CWM LLC now owns 2,363 shares of the company’s stock valued at $64,000 after buying an additional 1,700 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Genesco by 4,977.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,656 shares of the company’s stock valued at $95,000 after acquiring an additional 3,584 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Genesco during the second quarter worth $113,000. 94.51% of the stock is owned by institutional investors.

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.