StockNews.com Upgrades Genesco (NYSE:GCO) to Buy

Genesco (NYSE:GCO) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

Genesco Stock Performance

NYSE GCO opened at $29.57 on Monday. The stock has a market capitalization of $331.78 million, a price-to-earnings ratio of -422.37 and a beta of 2.41. The business’s 50 day moving average is $27.58 and its two-hundred day moving average is $27.32. Genesco has a 12-month low of $23.21 and a 12-month high of $37.89. The company has a current ratio of 1.53, a quick ratio of 0.40 and a debt-to-equity ratio of 0.15.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Friday, September 6th. The company reported ($0.83) earnings per share 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%. Research analysts expect that Genesco will post 0.66 EPS for the current year.

Institutional Investors Weigh In On Genesco

Institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. raised its position in Genesco by 20.2% during the second quarter. American Century Companies Inc. now owns 157,064 shares of the company’s stock worth $4,062,000 after acquiring an additional 26,436 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Genesco by 57.3% in the 2nd quarter. Acadian Asset Management LLC now owns 271,394 shares of the company’s stock valued at $7,016,000 after buying an additional 98,901 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 valued at $19,286,000 after buying an additional 17,664 shares in the last quarter. AQR Capital Management LLC grew its holdings in Genesco by 38.0% during the 2nd quarter. AQR Capital Management LLC now owns 102,986 shares of the company’s stock valued at $2,663,000 after buying an additional 28,374 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in Genesco by 59.3% during the second 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 in the last quarter. Institutional investors and hedge funds own 94.51% of the company’s stock.

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.