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

Genesco (NYSE:GCO) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Genesco Stock Performance

Shares of GCO opened at $30.61 on Friday. 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 stock has a 50-day moving average price of $27.46 and a 200-day moving average price of $27.17. The company has a market cap of $343.44 million, a PE ratio of -428.22 and a beta of 2.41. Genesco has a 12-month low of $23.21 and a 12-month high of $37.89.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Friday, September 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.29. The company had revenue of $525.19 million during the quarter, compared to the consensus estimate of $512.19 million. Genesco had a negative net margin of 0.03% and a positive return on equity of 0.49%. As a group, equities analysts forecast that Genesco will post 0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GCO. SummerHaven Investment Management LLC grew its holdings 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 valued at $756,000 after purchasing an additional 556 shares during the last quarter. Quest Partners LLC boosted its position in Genesco by 54.9% during 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. Quarry LP bought a new position in shares of Genesco during the second quarter valued at about $27,000. nVerses Capital LLC bought a new position in shares of Genesco during the third quarter valued at about $30,000. Finally, CWM LLC increased its holdings in shares of Genesco by 256.4% in the third quarter. CWM LLC now owns 2,363 shares of the company’s stock worth $64,000 after buying an additional 1,700 shares during the period. 94.51% of the stock is currently owned by institutional investors.

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.