Genesco (NYSE:GCO) Stock Rating Lowered by StockNews.com

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

Genesco Stock Performance

Shares of NYSE:GCO traded up $1.71 during trading on Thursday, reaching $34.62. The company had a trading volume of 205,825 shares, compared to its average volume of 136,463. The firm has a market capitalization of $388.44 million, a price-to-earnings ratio of -494.50 and a beta of 2.41. 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 stock’s fifty day moving average price is $28.57 and its 200 day moving average price is $27.68. Genesco has a fifty-two week low of $23.21 and a fifty-two week high of $37.89.

Genesco (NYSE:GCO) last released its earnings results on Friday, September 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.29. The business 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%. As a group, equities research analysts predict that Genesco will post 0.66 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GCO. Pzena Investment Management LLC grew its holdings in Genesco by 64.1% during the second quarter. Pzena Investment Management LLC now owns 1,221,342 shares of the company’s stock worth $31,584,000 after acquiring an additional 477,166 shares during the period. Acadian Asset Management LLC grew its holdings in Genesco by 57.3% during the second quarter. Acadian Asset Management LLC now owns 271,394 shares of the company’s stock worth $7,016,000 after acquiring an additional 98,901 shares during the period. Martingale Asset Management L P acquired a new position in Genesco during the third quarter worth $842,000. AQR Capital Management LLC grew its holdings in 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 acquiring an additional 28,374 shares during the period. Finally, American Century Companies Inc. boosted 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 purchasing an additional 26,436 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.