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

StockNews.com cut shares of Genesco (NYSE:GCO) from a buy rating to a hold rating in a report issued on Sunday morning.

Genesco Stock Performance

NYSE:GCO opened at $31.11 on Friday. Genesco has a 12 month low of $23.21 and a 12 month high of $37.89. 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 company’s 50 day moving average is $27.46 and its 200-day moving average is $27.23.

Genesco (NYSE:GCO) last released its quarterly earnings results on Friday, September 6th. The company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.29. Genesco had a negative net margin of 0.03% and a positive return on equity of 0.49%. The company had revenue of $525.19 million for the quarter, compared to analyst estimates of $512.19 million. On average, equities research analysts predict that Genesco will post 0.66 earnings per share for the current year.

Institutional Investors Weigh In On Genesco

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pzena Investment Management LLC grew its stake in shares of Genesco by 64.1% in 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 last quarter. Dimensional Fund Advisors LP grew its stake in shares of Genesco by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 745,818 shares of the company’s stock worth $19,286,000 after acquiring an additional 17,664 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Genesco by 57.3% in 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 last quarter. American Century Companies Inc. grew its stake in shares of Genesco by 20.2% in 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. Finally, AQR Capital Management LLC grew its stake in shares of Genesco by 38.0% in 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 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.