Genesco (NYSE:GCO) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Genesco Inc. (NYSE:GCO) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $32.97 and traded as high as $41.07. Genesco shares last traded at $40.55, with a volume of 164,189 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Genesco from a “hold” rating to a “buy” rating in a report on Friday, December 6th.

Genesco Stock Performance

The stock’s fifty day simple moving average is $41.27 and its two-hundred day simple moving average is $32.97. The company has a market cap of $454.60 million, a price-to-earnings ratio of -16.69 and a beta of 2.35. 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 issued its earnings results on Friday, December 6th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.31. The firm had revenue of $596.30 million for the quarter, compared to analysts’ expectations of $577.73 million. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 earnings per share. Equities research analysts anticipate that Genesco Inc. will post 0.94 EPS for the current year.

Insider Transactions at Genesco

In other Genesco news, VP Daniel E. Ewoldsen sold 4,000 shares of Genesco 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 of the company’s stock, valued at $1,765,159.44. The trade was a 8.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.09% of the company’s stock.

Institutional Investors Weigh In On Genesco

Several large investors have recently made changes to their positions in GCO. State Street Corp boosted its position in Genesco by 2.1% during the 3rd quarter. State Street Corp now owns 320,691 shares of the company’s stock worth $8,713,000 after purchasing an additional 6,587 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Genesco by 124.9% during the third quarter. JPMorgan Chase & Co. now owns 251,142 shares of the company’s stock worth $6,824,000 after purchasing an additional 139,485 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Genesco by 1.3% in the third quarter. Geode Capital Management LLC now owns 247,193 shares of the company’s stock worth $6,718,000 after buying an additional 3,157 shares during the period. Empowered Funds LLC grew its stake in shares of Genesco by 5.0% in the fourth quarter. Empowered Funds LLC now owns 61,501 shares of the company’s stock valued at $2,629,000 after buying an additional 2,953 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Genesco by 139.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,279 shares of the company’s stock valued at $986,000 after buying an additional 21,158 shares during the period. Institutional investors and hedge funds own 94.51% of the company’s stock.

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.