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

Genesco (NYSE:GCO) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Genesco Trading Up 9.5 %

Shares of NYSE GCO opened at $40.95 on Friday. Genesco has a one year low of $23.21 and a one year high of $43.00. The firm has a market capitalization of $459.54 million, a PE ratio of -16.85 and a beta of 2.47. 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 $29.80 and a two-hundred day moving average price of $28.12.

Genesco (NYSE:GCO) last announced its quarterly earnings results on Friday, December 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.31. The business had revenue of $596.30 million during the quarter, compared to analyst estimates of $577.73 million. Genesco had a positive return on equity of 0.49% and a negative net margin of 0.03%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 EPS. As a group, analysts predict that Genesco will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genesco

Several institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in shares of Genesco by 8.4% during the 3rd quarter. Franklin Resources Inc. now owns 11,108 shares of the company’s stock valued at $313,000 after buying an additional 859 shares during the last quarter. Barclays PLC lifted its holdings in shares of Genesco by 103.1% during the 3rd quarter. Barclays PLC now owns 20,730 shares of the company’s stock valued at $563,000 after buying an additional 10,521 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Genesco by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 247,193 shares of the company’s stock valued at $6,718,000 after buying an additional 3,157 shares during the last quarter. State Street Corp lifted its holdings in shares of Genesco by 2.1% during the 3rd quarter. State Street Corp now owns 320,691 shares of the company’s stock valued at $8,713,000 after buying an additional 6,587 shares during the last quarter. Finally, Point72 DIFC Ltd raised its stake in shares of Genesco by 1,627.4% in the 3rd 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 in the last quarter. 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.