Genesco (NYSE:GCO) Upgraded at StockNews.com

StockNews.com upgraded shares of Genesco (NYSE:GCO) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Genesco Price Performance

GCO stock opened at $40.95 on Friday. Genesco has a one year low of $23.21 and a one year high of $43.00. The company’s fifty day moving average price is $29.80 and its 200-day moving average price is $28.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.40 and a current ratio of 1.53. The company has a market capitalization of $459.54 million, a PE ratio of -16.85 and a beta of 2.47.

Genesco (NYSE:GCO) last released its earnings results on Friday, December 6th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.30 by $0.31. Genesco had a negative net margin of 0.03% and a positive return on equity of 0.49%. The firm had revenue of $596.30 million for the quarter, compared to the consensus estimate of $577.73 million. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Genesco will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Genesco

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Genesco in the second quarter valued at $27,000. nVerses Capital LLC purchased a new stake in shares of Genesco in the third quarter valued at $30,000. Point72 DIFC Ltd raised its stake in shares of Genesco by 1,627.4% in the third quarter. Point72 DIFC Ltd now owns 1,641 shares of the company’s stock valued at $45,000 after acquiring an additional 1,546 shares during the period. Quest Partners LLC raised its stake in shares of Genesco by 54.9% in the third quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock valued at $50,000 after acquiring an additional 657 shares during the period. Finally, CWM LLC raised its stake in shares of Genesco by 256.4% in the third quarter. CWM LLC now owns 2,363 shares of the company’s stock valued at $64,000 after acquiring an additional 1,700 shares during the period. Hedge funds and other institutional investors 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.