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

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

Genesco Price Performance

Shares of Genesco stock opened at $32.49 on Friday. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. The company has a market cap of $364.23 million, a PE ratio of -13.37 and a beta of 2.35. The business has a 50 day moving average of $40.09 and a 200 day moving average of $34.25. Genesco has a 52 week low of $23.21 and a 52 week high of $44.80.

Genesco (NYSE:GCO) last announced its earnings results on Friday, December 6th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.31. The company had revenue of $596.30 million during the quarter, compared to the consensus estimate 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 for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share. As a group, equities research analysts forecast that Genesco will post 0.94 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Genesco

A number of institutional investors have recently modified their holdings of GCO. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Genesco in the fourth quarter worth $35,000. Point72 DIFC Ltd boosted its position in shares of Genesco by 1,627.4% during the third quarter. Point72 DIFC Ltd now owns 1,641 shares of the company’s stock valued at $45,000 after buying an additional 1,546 shares during the last quarter. Quest Partners LLC boosted its position in shares of Genesco by 54.9% during the third quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock valued at $50,000 after buying an additional 657 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Genesco during the fourth quarter valued at $111,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Genesco by 84.6% during the third quarter. Meeder Asset Management Inc. now owns 8,035 shares of the company’s stock valued at $218,000 after buying an additional 3,683 shares during the last quarter. 94.51% of the stock is owned by hedge funds and other institutional investors.

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.