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

StockNews.com upgraded shares of Genesco (NYSE:GCO) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Genesco Trading Up 1.6 %

GCO opened at $29.66 on Thursday. The company has a quick ratio of 0.40, a current ratio of 1.53 and a debt-to-equity ratio of 0.15. Genesco has a 52 week low of $23.21 and a 52 week high of $37.89. The business’s 50 day moving average is $28.00 and its two-hundred day moving average is $27.02. The firm has a market cap of $344.83 million, a price-to-earnings ratio of -15.21 and a beta of 2.40.

Genesco (NYSE:GCO) last announced its earnings results on Friday, September 6th. The company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.29. Genesco had a negative net margin of 0.03% and a positive return on equity of 0.49%. The business had revenue of $525.19 million for the quarter, compared to analysts’ expectations of $512.19 million. On average, research analysts predict that Genesco will post 0.66 EPS for the current year.

Institutional Investors Weigh In On Genesco

Hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in Genesco in the 2nd quarter valued at approximately $27,000. nVerses Capital LLC purchased a new stake in shares of Genesco during the 3rd quarter worth approximately $30,000. CWM LLC boosted its stake in shares of Genesco by 256.4% during the 3rd quarter. CWM LLC now owns 2,363 shares of the company’s stock worth $64,000 after acquiring an additional 1,700 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake 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 worth $95,000 after acquiring an additional 3,584 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Genesco during the 2nd quarter worth approximately $113,000. 94.51% of the stock is owned by institutional investors and hedge funds.

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.