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

Genesco (NYSE:GCO) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Genesco Trading Up 1.8 %

Shares of NYSE GCO opened at $29.19 on Thursday. Genesco has a one year low of $23.21 and a one year high of $37.89. The firm has a market capitalization of $339.36 million, a PE ratio of -14.97 and a beta of 2.40. The company has a current ratio of 1.53, a quick ratio of 0.40 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $27.95 and a two-hundred day moving average price of $27.00.

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

Institutional Investors Weigh In On Genesco

A number of institutional investors have recently bought and sold shares of GCO. Quarry LP acquired a new stake in shares of Genesco during the 2nd quarter valued at about $27,000. nVerses Capital LLC acquired a new stake in shares of Genesco during the 3rd quarter valued at about $30,000. CWM LLC lifted its holdings in shares of Genesco by 256.4% during the 3rd quarter. CWM LLC now owns 2,363 shares of the company’s stock valued at $64,000 after buying an additional 1,700 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Genesco by 4,977.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,656 shares of the company’s stock valued at $95,000 after buying an additional 3,584 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Genesco during the 2nd quarter valued at about $113,000. 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.