Genesco (NYSE:GCO) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “Genesco Inc., a Nashville-based specialty retailer, sells footwear, headwear and accessories in retail stores in the United States and Canada. The Company sells its products principally under the names Journeys, Journeys Kidz, Shi by Journeys, Johnston & Murphy, Underground Station, Hatworld, Lids, Hat Shack, Hat Zone, Head Quarters and Cap Connection, and on internet websites. The Company also sells footwear at wholesale under its Johnston & Murphy brand and under the licensed Dockers brand. “

A number of other equities research analysts have also issued reports on GCO. Robert W. Baird restated a “hold” rating and issued a $35.00 target price on shares of Genesco in a research note on Wednesday. ValuEngine lowered shares of Genesco from a “buy” rating to a “hold” rating in a research note on Sunday. Jefferies Group upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research note on Tuesday. SunTrust Banks set a $33.00 price objective on shares of Genesco and gave the stock a “buy” rating in a research note on Monday, October 16th. Finally, Piper Jaffray Companies set a $35.00 price objective on shares of Genesco and gave the stock a “buy” rating in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $33.50.

Shares of Genesco (NYSE:GCO) traded down $0.80 during trading on Thursday, hitting $33.00. 740,287 shares of the stock were exchanged, compared to its average volume of 671,367. The firm has a market cap of $657.14, a price-to-earnings ratio of -5.24, a PEG ratio of 1.21 and a beta of 1.37. The company has a current ratio of 2.31, a quick ratio of 0.47 and a debt-to-equity ratio of 0.29. Genesco has a 1-year low of $20.90 and a 1-year high of $65.70.

Genesco (NYSE:GCO) last issued its earnings results on Friday, December 1st. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.10). The company had revenue of $716.80 million during the quarter, compared to analyst estimates of $706.58 million. Genesco had a negative net margin of 4.24% and a positive return on equity of 6.93%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 EPS. equities analysts expect that Genesco will post 3.07 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC acquired a new stake in Genesco during the second quarter worth about $144,000. Public Employees Retirement System of Ohio raised its stake in Genesco by 16.9% during the second quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock worth $145,000 after acquiring an additional 618 shares during the period. Pacad Investment Ltd. raised its stake in Genesco by 109.7% during the second quarter. Pacad Investment Ltd. now owns 7,550 shares of the company’s stock worth $256,000 after acquiring an additional 3,950 shares during the period. SG Americas Securities LLC raised its stake in Genesco by 182.8% during the second quarter. SG Americas Securities LLC now owns 7,962 shares of the company’s stock worth $270,000 after acquiring an additional 5,147 shares during the period. Finally, Pinnacle Financial Partners Inc. bought a new position in Genesco in the 3rd quarter worth about $226,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.

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Genesco Company Profile

Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.

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