Genesco (NYSE:GCO) Stock Rating Upgraded by Wall Street Zen

Genesco (NYSE:GCO) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other research analysts also recently issued research reports about the stock. UBS Group set a $38.00 target price on shares of Genesco in a report on Friday, December 5th. Zacks Research upgraded shares of Genesco from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Williams Trading raised Genesco to a “strong-buy” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Genesco in a research report on Monday. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Genesco in a report on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $34.00.

Genesco Trading Down 3.0%

Shares of GCO stock opened at $27.94 on Friday. Genesco has a 12 month low of $16.19 and a 12 month high of $38.95. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $28.45 and its two-hundred day moving average is $29.16. The company has a market cap of $303.38 million, a PE ratio of 24.72 and a beta of 1.86.

Genesco (NYSE:GCO) last released its quarterly earnings results on Friday, March 6th. The company reported $3.74 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.01. The company had revenue of $799.94 million for the quarter, compared to analyst estimates of $476.67 million. Genesco had a net margin of 0.54% and a return on equity of 2.92%. Genesco has set its FY 2027 guidance at 1.900-2.300 EPS. Equities analysts predict that Genesco will post 0.94 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Genesco by 371.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock valued at $5,365,000 after acquiring an additional 214,639 shares during the period. Shay Capital LLC bought a new stake in shares of Genesco in the 2nd quarter worth about $4,027,000. JPMorgan Chase & Co. grew its holdings in shares of Genesco by 2,995.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 167,155 shares of the company’s stock worth $4,846,000 after purchasing an additional 161,755 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Genesco during the 2nd quarter worth about $2,954,000. Finally, Marshall Wace LLP increased its position in shares of Genesco by 232.5% during the 4th quarter. Marshall Wace LLP now owns 174,218 shares of the company’s stock worth $4,315,000 after purchasing an additional 121,814 shares in the last quarter. 94.51% of the stock is currently owned by institutional investors and hedge funds.

About Genesco

Genesco Inc is a Nashville, Tennessee-based retailer, wholesaler and licensee specializing in branded footwear, headwear, apparel and accessories. Through its portfolio of retail chains, wholesale distribution channels and licensing agreements, Genesco brings a range of product offerings to consumers in North America and Europe.

The company’s retail segment includes specialty chains such as Journeys, which targets fashion-focused teens and young adults in the United States and Canada, and Schuh, a footwear retailer with locations in the United Kingdom and Ireland.