Wall Street Zen Downgrades Genesco (NYSE:GCO) to Hold

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

Several other research firms have also recently commented on GCO. Jefferies Financial Group restated a “hold” rating on shares of Genesco in a report on Friday, March 6th. Zacks Research upgraded shares of Genesco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. Seaport Research Partners cut shares of Genesco from a “buy” rating to a “neutral” rating in a report on Wednesday, May 27th. Truist Financial set a $40.00 target price on shares of Genesco in a research note on Friday, May 29th. Finally, Weiss Ratings upgraded shares of Genesco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Genesco presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Genesco Price Performance

GCO opened at $42.48 on Friday. The stock has a fifty day moving average of $35.08 and a 200-day moving average of $30.67. The company has a quick ratio of 0.37, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. Genesco has a 12-month low of $19.62 and a 12-month high of $43.60. The firm has a market capitalization of $471.52 million, a P/E ratio of 24.55 and a beta of 1.83.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, May 29th. The company reported ($2.18) EPS for the quarter, beating the consensus estimate of ($2.58) by $0.40. Genesco had a net margin of 0.80% and a return on equity of 2.66%. The business had revenue of $487.03 million for the quarter, compared to analysts’ expectations of $474.33 million. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Equities analysts forecast that Genesco will post 2.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Genesco

Institutional investors have recently modified their holdings of the company. Group One Trading LLC bought a new position in shares of Genesco in the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp acquired a new position in Genesco during the 1st quarter worth $26,000. New York State Teachers Retirement System acquired a new position in Genesco during the 1st quarter worth $27,000. Optiver Holding B.V. lifted its position in Genesco by 550.6% during the 1st quarter. Optiver Holding B.V. now owns 1,106 shares of the company’s stock worth $32,000 after acquiring an additional 936 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Genesco during the 4th quarter worth $37,000. Institutional investors own 94.51% of the company’s stock.

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.