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

Genesco Inc. (NYSE:GCO)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.07 and traded as high as $34.66. Genesco shares last traded at $33.7170, with a volume of 242,173 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GCO shares. Seaport Research Partners cut shares of Genesco from a “buy” rating to a “neutral” rating in a report on Wednesday, May 27th. Zacks Research raised Genesco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. Truist Financial set a $40.00 price target on Genesco in a research report on Friday, May 29th. Jefferies Financial Group reissued a “hold” rating on shares of Genesco in a report on Friday, March 6th. Finally, Weiss Ratings lowered Genesco from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.67.

Genesco Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.37 and a current ratio of 1.83. The stock’s fifty day moving average is $36.00 and its two-hundred day moving average is $31.07. The firm has a market cap of $374.60 million, a price-to-earnings ratio of 19.49 and a beta of 1.83.

Genesco (NYSE:GCO) last issued its quarterly earnings data on Friday, May 29th. The company reported ($2.18) earnings per share for the quarter, beating the consensus estimate of ($2.58) by $0.40. The firm had revenue of $487.03 million for the quarter, compared to the consensus estimate of $474.32 million. Genesco had a net margin of 0.80% and a return on equity of 2.66%. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. On average, analysts expect that Genesco Inc. will post 2.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genesco

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its position in shares of Genesco by 15.4% during the first quarter. Royal Bank of Canada now owns 52,848 shares of the company’s stock worth $1,122,000 after buying an additional 7,042 shares during the period. Jones Financial Companies Lllp acquired a new stake in Genesco in the 1st quarter valued at approximately $26,000. Empowered Funds LLC raised its stake in Genesco by 5.3% during the 1st quarter. Empowered Funds LLC now owns 64,783 shares of the company’s stock valued at $1,375,000 after acquiring an additional 3,282 shares in the last quarter. Cetera Investment Advisers bought a new stake in Genesco during the 2nd quarter valued at $208,000. Finally, Russell Investments Group Ltd. boosted its position in Genesco by 31.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 17,845 shares of the company’s stock worth $351,000 after acquiring an additional 4,268 shares during the period. 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.