Genesco (NYSE:GCO) Lowered to “Hold” Rating by StockNews.com

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

Genesco Trading Down 1.8 %

NYSE GCO opened at $29.02 on Friday. The company has a fifty day moving average of $27.46 and a 200 day moving average of $27.16. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.53 and a quick ratio of 0.40. The company has a market capitalization of $325.60 million, a PE ratio of -414.51 and a beta of 2.41. Genesco has a 1 year low of $23.21 and a 1 year high of $37.89.

Genesco (NYSE:GCO) last announced its earnings results on Friday, September 6th. The company reported ($0.83) earnings per share for the quarter, topping 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 business had revenue of $525.19 million during the quarter, compared to the consensus estimate of $512.19 million. Research analysts forecast that Genesco will post 0.66 earnings per share for the current year.

Hedge Funds Weigh In On Genesco

A number of hedge funds have recently modified their holdings of the business. American Century Companies Inc. lifted its position in Genesco by 20.2% in the second quarter. American Century Companies Inc. now owns 157,064 shares of the company’s stock valued at $4,062,000 after purchasing an additional 26,436 shares during the period. Acadian Asset Management LLC boosted its stake 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 purchasing an additional 98,901 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Genesco by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 745,818 shares of the company’s stock worth $19,286,000 after acquiring an additional 17,664 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Genesco by 38.0% during the second quarter. AQR Capital Management LLC now owns 102,986 shares of the company’s stock worth $2,663,000 after purchasing an additional 28,374 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in Genesco by 59.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 55,613 shares of the company’s stock worth $1,438,000 after buying an additional 20,707 shares during the last quarter. 94.51% of the stock is currently owned by hedge funds and other 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.