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

StockNews.com lowered shares of Genesco (NYSE:GCO) from a buy rating to a hold rating in a research note released on Wednesday.

Genesco Price Performance

Shares of NYSE GCO opened at $36.90 on Wednesday. The stock’s 50-day simple moving average is $40.92 and its 200-day simple moving average is $34.03. The firm has a market capitalization of $413.75 million, a PE ratio of -15.19 and a beta of 2.35. Genesco has a fifty-two week low of $23.21 and a fifty-two week high of $44.80. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 1.56.

Genesco (NYSE:GCO) last released its quarterly earnings data on Friday, December 6th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.31. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. The company had revenue of $596.30 million for the quarter, compared to analysts’ expectations of $577.73 million. During the same quarter last year, the company earned $0.57 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Genesco will post 0.94 EPS for the current fiscal year.

Insider Transactions at Genesco

In other news, VP Daniel E. Ewoldsen sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $42.68, for a total transaction of $170,720.00. Following the transaction, the vice president now directly owns 41,358 shares in the company, valued at approximately $1,765,159.44. This trade represents a 8.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.09% of the company’s stock.

Institutional Trading of Genesco

Large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Genesco in the fourth quarter valued at about $35,000. Point72 DIFC Ltd increased its position in 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 during the period. Quest Partners LLC raised its stake in Genesco by 54.9% during the 3rd 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 last quarter. SG Americas Securities LLC acquired a new stake in Genesco during the 4th quarter worth approximately $111,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Genesco by 84.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 8,035 shares of the company’s stock valued at $218,000 after purchasing an additional 3,683 shares during the last quarter. Institutional investors and hedge funds own 94.51% of the company’s stock.

About Genesco

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.