StockNews.com lowered shares of Genesco (NYSE:GCO - Free Report) from a buy rating to a hold rating in a report issued on Friday morning.
Genesco Price Performance
GCO traded down $4.71 during trading on Friday, reaching $22.40. The stock had a trading volume of 1,046,602 shares, compared to its average volume of 163,043. The stock has a 50 day moving average of $39.79 and a two-hundred day moving average of $34.29. 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 firm has a market capitalization of $251.10 million, a price-to-earnings ratio of -9.22 and a beta of 2.41. Genesco has a 1-year low of $21.94 and a 1-year high of $44.80.
Genesco (NYSE:GCO - Get Free Report) last announced its earnings results on Friday, March 7th. The company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.05). The firm had revenue of $745.95 million for the quarter, compared to the consensus estimate of $780.43 million. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. During the same period in the prior year, the business earned $2.59 EPS. As a group, equities analysts anticipate that Genesco will post 0.94 EPS for the current fiscal year.
Insider Buying and Selling
In other news, VP Daniel E. Ewoldsen sold 4,000 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $42.68, for a total transaction of $170,720.00. Following the completion of the sale, the vice president now owns 41,358 shares in the company, valued at approximately $1,765,159.44. This represents a 8.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.09% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Genesco
A number of institutional investors and hedge funds have recently modified their holdings of GCO. Mackenzie Financial Corp purchased a new position in Genesco in the 4th quarter worth about $596,000. Virtus Investment Advisers Inc. purchased a new stake in shares of Genesco during the 4th quarter worth about $361,000. State of Wyoming bought a new position in Genesco in the 4th quarter worth $242,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Genesco during the fourth quarter valued at about $35,000. Finally, Occudo Quantitative Strategies LP acquired a new position in Genesco in the fourth quarter worth about $356,000. 94.51% of the stock is owned by institutional investors and hedge funds.
Genesco Company Profile
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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.
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