Genesco (NYSE:GCO) Shares Cross Above 200-Day Moving Average – What’s Next?

Genesco Inc. (NYSE:GCO) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $31.53 and traded as high as $33.97. Genesco shares last traded at $33.6250, with a volume of 150,459 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have commented on GCO. Weiss Ratings lowered Genesco from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Truist Financial set a $40.00 price objective on Genesco in a report on Friday, May 29th. Zacks Research upgraded shares of Genesco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Wall Street Zen downgraded shares of Genesco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Seaport Research Partners lowered shares of Genesco from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Genesco has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Genesco Stock Up 2.6%

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 cap of $373.57 million, a P/E ratio of 19.44 and a beta of 1.83. The company’s 50 day moving average price is $35.62 and its two-hundred day moving average price is $31.53.

Genesco (NYSE:GCO) last announced its earnings results on Friday, May 29th. The company reported ($2.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.58) by $0.40. The company had revenue of $487.03 million during the quarter, compared to analyst estimates 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. Equities analysts forecast that Genesco Inc. will post 2.25 earnings per share for the current year.

Hedge Funds Weigh In On Genesco

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Group One Trading LLC bought a new stake in Genesco during the 4th quarter worth approximately $26,000. Jones Financial Companies Lllp bought a new position in shares of Genesco in the first quarter worth approximately $26,000. New York State Teachers Retirement System purchased a new stake in shares of Genesco in the first quarter worth $27,000. Optiver Holding B.V. increased its stake in shares of Genesco by 550.6% in the first quarter. Optiver Holding B.V. now owns 1,106 shares of the company’s stock worth $32,000 after purchasing an additional 936 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Genesco during the 4th quarter valued at $37,000. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

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.