Genesco (NYSE:GCO) Rating Increased to Buy at Wall Street Zen

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

A number of other equities analysts have also issued reports on GCO. Weiss Ratings raised Genesco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Seaport Research Partners lowered Genesco from a “buy” rating to a “neutral” rating in a research report on Wednesday. Truist Financial set a $40.00 target price on Genesco in a research report on Friday. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Genesco in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.67.

Genesco Stock Up 5.8%

GCO opened at $38.50 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.64 and a quick ratio of 0.49. Genesco has a 12 month low of $19.62 and a 12 month high of $38.95. The stock has a market capitalization of $418.14 million, a price-to-earnings ratio of 34.07 and a beta of 1.82. The business has a 50-day moving average of $32.60 and a two-hundred day moving average of $30.09.

Genesco (NYSE:GCO) last posted its earnings results on Friday, May 29th. The company reported ($2.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.58) by $0.40. The firm had revenue of $487.03 million during the quarter, compared to the consensus estimate of $474.33 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 2.000-2.400 EPS. On average, research analysts expect that Genesco will post 2.12 earnings per share for the current year.

Institutional Investors Weigh In On Genesco

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in Genesco by 1.2% during the fourth quarter. SG Americas Securities LLC now owns 40,198 shares of the company’s stock valued at $996,000 after buying an additional 458 shares in the last quarter. Silver Oak Securities Incorporated boosted its stake in Genesco by 3.5% during the first quarter. Silver Oak Securities Incorporated now owns 18,688 shares of the company’s stock valued at $542,000 after buying an additional 627 shares in the last quarter. New York State Teachers Retirement System bought a new position in Genesco during the first quarter valued at about $27,000. BNP Paribas Financial Markets boosted its stake in Genesco by 92.3% during the third quarter. BNP Paribas Financial Markets now owns 1,960 shares of the company’s stock valued at $57,000 after buying an additional 941 shares in the last quarter. Finally, Group One Trading LLC bought a new position in Genesco during the fourth quarter valued at about $26,000. 94.51% of the stock is owned by institutional investors and hedge funds.

Genesco Company Profile

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.