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

Genesco Inc. (NYSE:GCO)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.68 and traded as high as $35.92. Genesco shares last traded at $35.78, with a volume of 277,419 shares traded.

Wall Street Analysts Forecast Growth

GCO has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of Genesco in a research report on Friday, March 6th. Wall Street Zen downgraded Genesco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Seaport Research Partners lowered Genesco from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 27th. Weiss Ratings downgraded shares of Genesco from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Finally, Truist Financial set a $40.00 price objective on shares of Genesco in a research report on Friday, May 29th. Two investment 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.67.

Genesco Trading Up 0.3%

The stock has a market cap of $397.52 million, a PE ratio of 20.68 and a beta of 1.83. The company’s fifty day moving average is $35.86 and its 200-day moving average is $30.68. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 0.37.

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. The company had revenue of $487.03 million for 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. On average, analysts predict that Genesco Inc. will post 2.25 earnings per share for the current fiscal year.

Institutional Trading of Genesco

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