StockNews.com Upgrades Genesco (NYSE:GCO) to “Buy”

Genesco (NYSE:GCO) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

Genesco Trading Down 2.5 %

NYSE GCO opened at $29.48 on Monday. The company has a market cap of $330.77 million, a P/E ratio of -421.08 and a beta of 2.41. 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 has a 50-day moving average of $27.67 and a 200-day moving average of $27.37.

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

Institutional Trading of Genesco

A number of institutional investors have recently modified their holdings of GCO. Pzena Investment Management LLC raised its holdings in Genesco by 64.1% in the second quarter. Pzena Investment Management LLC now owns 1,221,342 shares of the company’s stock valued at $31,584,000 after buying an additional 477,166 shares during the period. Acadian Asset Management LLC raised its stake in shares of Genesco by 57.3% in the 2nd quarter. Acadian Asset Management LLC now owns 271,394 shares of the company’s stock valued at $7,016,000 after acquiring an additional 98,901 shares during the period. Martingale Asset Management L P acquired a new position in shares of Genesco during the 3rd quarter valued at $842,000. AQR Capital Management LLC boosted its position in Genesco by 38.0% during the 2nd quarter. AQR Capital Management LLC now owns 102,986 shares of the company’s stock worth $2,663,000 after purchasing an additional 28,374 shares during the period. Finally, American Century Companies Inc. increased its holdings in Genesco by 20.2% in the 2nd quarter. American Century Companies Inc. now owns 157,064 shares of the company’s stock valued at $4,062,000 after purchasing an additional 26,436 shares in the last quarter. 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.