Genesco (NYSE:GCO) Price Target Raised to $25.00

Genesco (NYSE:GCO) had its price objective raised by Truist Financial from $23.00 to $25.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $24.00 price target (down from $27.00) on shares of Genesco in a report on Wednesday, May 21st. Wall Street Zen cut Genesco from a “buy” rating to a “hold” rating in a report on Friday, May 30th.

Genesco Price Performance

Shares of NYSE GCO opened at $22.71 on Thursday. Genesco has a 52 week low of $16.19 and a 52 week high of $44.80. The business’s 50 day moving average price is $20.64 and its 200 day moving average price is $30.86. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. The firm has a market cap of $244.81 million, a P/E ratio of -9.35 and a beta of 2.17.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Wednesday, June 4th. The company reported ($2.05) EPS for the quarter, beating the consensus estimate of ($2.09) by $0.04. The business had revenue of $473.97 million during the quarter, compared to analysts’ expectations of $463.90 million. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.10) EPS. On average, sell-side analysts expect that Genesco will post 0.94 earnings per share for the current year.

Insider Transactions at Genesco

In other news, Director Gregory A. Sandfort acquired 10,974 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $22.92 per share, for a total transaction of $251,524.08. Following the completion of the transaction, the director now owns 26,754 shares in the company, valued at approximately $613,201.68. The trade was a 69.54% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $23.26, for a total transaction of $581,500.00. Following the sale, the insider now directly owns 1,072,850 shares in the company, valued at approximately $24,954,491. The trade was a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 23.11% of the company’s stock.

Institutional Trading of Genesco

Several institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Genesco during the 4th quarter worth approximately $35,000. Jones Financial Companies Lllp purchased a new stake in Genesco in the 1st quarter worth $26,000. SG Americas Securities LLC acquired a new position in Genesco during the fourth quarter worth $111,000. Virtus Advisers LLC acquired a new position in Genesco during the first quarter worth $56,000. Finally, AlphaQuest LLC lifted its holdings in Genesco by 501,200.0% during the first quarter. AlphaQuest LLC now owns 5,013 shares of the company’s stock valued at $106,000 after purchasing an additional 5,012 shares in the last quarter. 94.51% of the stock is owned by institutional investors and hedge funds.

Genesco Company Profile

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories in the United States, Puerto Rico, Canada, the United Kingdom, and the Republic of Ireland. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Genesco Brands.