Genesco (NYSE:GCO) Upgraded to “Buy” by StockNews.com

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

Genesco Price Performance

Shares of GCO opened at $29.19 on Thursday. The firm has a market capitalization of $339.36 million, a price-to-earnings ratio of -14.97 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 one year low of $23.21 and a one year high of $37.89. The stock’s fifty day moving average is $27.95 and its 200-day moving average is $27.00.

Genesco (NYSE:GCO) last released its earnings results 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 firm had revenue of $525.19 million for the quarter, compared to analyst estimates of $512.19 million. Genesco had a positive return on equity of 0.49% and a negative net margin of 0.03%. Equities analysts anticipate that Genesco will post 0.66 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new position in Genesco during the second quarter worth about $27,000. nVerses Capital LLC purchased a new position in Genesco in the 3rd quarter worth about $30,000. CWM LLC increased its stake in Genesco by 256.4% in the 3rd quarter. CWM LLC now owns 2,363 shares of the company’s stock worth $64,000 after purchasing an additional 1,700 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in 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 purchasing an additional 3,584 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Genesco in the 2nd quarter worth about $113,000. 94.51% of the stock is owned by institutional investors and hedge funds.

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.