StockNews.com Downgrades Genesco (NYSE:GCO) to Hold

Genesco (NYSE:GCO) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Genesco Stock Down 1.7 %

Shares of NYSE GCO opened at $36.16 on Wednesday. The business has a 50-day moving average of $40.83 and a two-hundred day moving average of $34.05. The company has a market capitalization of $405.37 million, a price-to-earnings ratio of -14.88 and a beta of 2.35. Genesco has a 1 year low of $23.21 and a 1 year high of $44.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.32.

Genesco (NYSE:GCO) last posted its earnings results on Friday, December 6th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.31. The firm had revenue of $596.30 million during the quarter, compared to analysts’ expectations of $577.73 million. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. On average, analysts forecast that Genesco will post 0.94 earnings per share for the current fiscal year.

Insider Activity at Genesco

In other news, VP Daniel E. Ewoldsen sold 4,000 shares of Genesco stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $42.68, for a total transaction of $170,720.00. Following the sale, the vice president now owns 41,358 shares in the company, valued at approximately $1,765,159.44. The trade was a 8.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.09% of the stock is owned by corporate insiders.

Institutional Trading of Genesco

Large investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd lifted its stake in Genesco by 166.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 34,275 shares of the company’s stock valued at $931,000 after buying an additional 21,410 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Genesco by 8.4% in the 3rd quarter. Franklin Resources Inc. now owns 11,108 shares of the company’s stock valued at $313,000 after acquiring an additional 859 shares during the period. JPMorgan Chase & Co. raised its position in Genesco by 124.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 251,142 shares of the company’s stock valued at $6,824,000 after purchasing an additional 139,485 shares during the last quarter. Martingale Asset Management L P acquired a new stake in Genesco during the 3rd quarter worth $842,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Genesco by 139.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,279 shares of the company’s stock worth $986,000 after purchasing an additional 21,158 shares during the last quarter. 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.