Genesco (NYSE:GCO) 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 report released on Monday.

Genesco Trading Down 3.2 %

Genesco stock traded down $0.87 during mid-day trading on Monday, hitting $26.70. 152,672 shares of the company’s stock were exchanged, compared to its average volume of 132,482. The firm has a market capitalization of $310.52 million, a P/E ratio of -13.69 and a beta of 2.42. Genesco has a fifty-two week low of $23.21 and a fifty-two week high of $37.89. The company has a quick ratio of 0.37, a current ratio of 1.65 and a debt-to-equity ratio of 0.11. The company’s 50 day simple moving average is $26.60 and its 200-day simple moving average is $27.29.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Friday, May 31st. The company reported ($2.10) earnings per share for the quarter, beating the consensus estimate of ($2.66) by $0.56. The company had revenue of $457.60 million during the quarter, compared to analysts’ expectations of $445.66 million. Genesco had a positive return on equity of 0.40% and a negative net margin of 0.97%. Genesco’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.59) EPS. On average, equities analysts anticipate that Genesco will post 0.66 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Genesco by 0.6% in the third quarter. Vanguard Group Inc. now owns 680,725 shares of the company’s stock worth $20,980,000 after purchasing an additional 4,159 shares during the last quarter. Summit Global Investments acquired a new stake in shares of Genesco in the 4th quarter worth about $340,000. LSV Asset Management grew its position in Genesco by 1.8% in the 4th quarter. LSV Asset Management now owns 282,438 shares of the company’s stock worth $9,945,000 after purchasing an additional 4,876 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Genesco by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 327,616 shares of the company’s stock worth $11,535,000 after purchasing an additional 21,686 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of Genesco during the 4th quarter valued at approximately $250,000. 94.51% of the stock is currently owned by institutional investors and hedge funds.

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.