Genesco (NYSE:GCO) Downgraded by StockNews.com to “Hold”

Genesco (NYSE:GCOGet Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Genesco Trading Down 2.1 %

GCO opened at $18.22 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $28.00 and its two-hundred day moving average is $32.80. The company has a market capitalization of $201.11 million, a P/E ratio of -7.50 and a beta of 2.25. Genesco has a 52 week low of $16.19 and a 52 week high of $44.80.

Genesco (NYSE:GCOGet Free Report) last announced its quarterly earnings results on Friday, March 7th. The company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.05). Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. The firm had revenue of $745.95 million for the quarter, compared to analysts’ expectations of $780.43 million. During the same quarter in the prior year, the business posted $2.59 EPS. Analysts forecast that Genesco will post 0.94 earnings per share for the current year.

Insider Transactions at Genesco

In other news, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $20.73, for a total value of $248,760.00. Following the completion of the transaction, the insider now directly owns 1,097,850 shares of the company’s stock, valued at approximately $22,758,430.50. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory A. Sandfort acquired 10,974 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average cost of $22.92 per share, for a total transaction of $251,524.08. Following the transaction, the director now owns 26,754 shares of the company’s stock, valued at $613,201.68. This represents a 69.54 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 7.09% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GCO. Rhumbline Advisers increased its stake in Genesco by 1.5% during the 4th quarter. Rhumbline Advisers now owns 19,146 shares of the company’s stock valued at $818,000 after purchasing an additional 281 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Genesco by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,392 shares of the company’s stock valued at $616,000 after acquiring an additional 650 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Genesco in the 4th quarter worth $35,000. Franklin Resources Inc. lifted its position in Genesco by 8.4% during the 3rd quarter. Franklin Resources Inc. now owns 11,108 shares of the company’s stock worth $313,000 after acquiring an additional 859 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Genesco by 28.1% in the fourth quarter. Wells Fargo & Company MN now owns 5,846 shares of the company’s stock valued at $250,000 after purchasing an additional 1,281 shares during the period. Institutional investors own 94.51% of the company’s stock.

About Genesco

(Get Free Report)

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.

Further Reading

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