Genesco (NYSE:GCO) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Genesco Inc. (NYSE:GCO) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $30.58 and traded as high as $42.72. Genesco shares last traded at $42.5090, with a volume of 194,496 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Jefferies Financial Group reaffirmed a “hold” rating on shares of Genesco in a research note on Friday, March 6th. Weiss Ratings raised Genesco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Truist Financial set a $40.00 price objective on Genesco in a research note on Friday, May 29th. Seaport Research Partners lowered Genesco from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen raised Genesco from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Two investment analysts have rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Genesco Trading Up 8.9%

The business has a 50 day simple moving average of $34.81 and a 200-day simple moving average of $30.58. The company has a current ratio of 1.83, a quick ratio of 0.37 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $471.85 million, a price-to-earnings ratio of 24.57 and a beta of 1.83.

Genesco (NYSE:GCO) last issued its quarterly 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. Genesco had a return on equity of 2.66% and a net margin of 0.80%.The firm had revenue of $487.03 million for the quarter, compared to analyst estimates of $474.33 million. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. On average, equities analysts predict that Genesco Inc. will post 2.25 earnings per share for the current year.

Institutional Trading of Genesco

A number of hedge funds have recently added to or reduced their stakes in GCO. Arrowstreet Capital Limited Partnership boosted its stake in Genesco by 371.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock worth $5,365,000 after buying an additional 214,639 shares during the last quarter. Shay Capital LLC acquired a new position in shares of Genesco in the 2nd quarter valued at about $4,027,000. JPMorgan Chase & Co. lifted its stake 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 valued at $4,846,000 after purchasing an additional 161,755 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Genesco in the 2nd quarter valued at about $2,954,000. Finally, Marshall Wace LLP lifted its stake in shares of Genesco by 232.5% in the 4th quarter. Marshall Wace LLP now owns 174,218 shares of the company’s stock valued at $4,315,000 after purchasing an additional 121,814 shares in the last quarter. 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.