Genesco (NYSE:GCO) Upgraded at StockNews.com

Genesco (NYSE:GCO) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Genesco Stock Up 6.9 %

NYSE:GCO traded up $1.82 during mid-day trading on Friday, hitting $28.20. The company had a trading volume of 153,409 shares, compared to its average volume of 136,952. 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 business has a fifty day simple moving average of $28.10 and a 200-day simple moving average of $26.96. The firm has a market capitalization of $327.85 million, a price-to-earnings ratio of -14.46 and a beta of 2.40. Genesco has a 1 year low of $23.21 and a 1 year high of $37.89.

Genesco (NYSE:GCO) last announced its quarterly earnings data 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. The firm had revenue of $525.19 million for the quarter, compared to analysts’ expectations of $512.19 million. Genesco had a positive return on equity of 0.49% and a negative net margin of 0.03%. Equities analysts forecast that Genesco will post 0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GCO. Quarry LP bought a new stake in Genesco during the second quarter worth approximately $27,000. Allspring Global Investments Holdings LLC raised its stake in shares of Genesco by 4,977.8% in 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 in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Genesco in the second quarter valued at $113,000. XTX Topco Ltd acquired a new stake in shares of Genesco in the second quarter valued at $364,000. Finally, First Hawaiian Bank boosted its stake in Genesco by 108.2% during the second quarter. First Hawaiian Bank now owns 16,680 shares of the company’s stock valued at $431,000 after buying an additional 8,670 shares in the last quarter. 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.