Genesco (NYSE:GCO) Cut to Hold at Zacks Research

Key Points

• Zacks Research downgraded Genesco from “strong buy” to “hold.” The broader analyst consensus is also “hold,” with an average price target of $36.
• Genesco shares were reported down 2.6%, opening at $36.63.
• In its latest reported quarter, Genesco posted an adjusted loss of $0.83 per share, better than analysts’ expected loss of $1.37, and revenue of $529.86 million, above estimates.

Genesco (NYSE:GCO - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday, Zacks reports.

A number of other analysts have also recently commented on the company. Weiss Ratings raised Genesco from a "sell (d+)" rating to a "hold (c)" rating in a research report on Tuesday, September 22nd. Wall Street Zen upgraded Genesco from a "hold" rating to a "buy" rating in a research note on Monday, October 19th. Finally, Truist Financial reduced their price objective on Genesco from $40.00 to $38.00 and set a "hold" rating for the company in a research report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $36.00.

Genesco Trading Down 2.6%

Shares of NYSE GCO opened at $36.63 on Monday. Genesco has a 1 year low of $21.92 and a 1 year high of $43.60. The stock has a market cap of $396.39 million, a P/E ratio of 24.75 and a beta of 1.82. The firm has a 50-day moving average of $35.27 and a 200 day moving average of $33.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.58 and a quick ratio of 0.32.

Genesco (NYSE:GCO - Get Free Report) last posted its quarterly earnings data on Thursday, September 3rd. The company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($1.37) by $0.54. The business had revenue of $529.86 million for the quarter, compared to analyst estimates of $527.26 million. Genesco had a net margin of 1.71% and a return on equity of 3.14%. During the same quarter in the previous year, the firm posted ($1.79) earnings per share. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. As a group, sell-side analysts expect that Genesco will post 2.35 EPS for the current fiscal year.

Institutional Trading of Genesco

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in shares of Genesco in the second quarter worth approximately $25,000. New York State Teachers Retirement System purchased a new stake in shares of Genesco during the first quarter valued at approximately $27,000. Optiver Holding B.V. increased its position in shares of Genesco by 550.6% during 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 in the last quarter. Legal & General Group Plc bought a new stake in shares of Genesco during the second quarter valued at approximately $32,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Genesco during the second quarter valued at approximately $48,000. 94.51% of the stock is currently owned by institutional investors.

Genesco Company Profile

Genesco Inc NYSE: GCO is a Nashville, Tennessee-based specialty retailer and distributor of footwear, apparel and accessories. The company serves consumers through retail stores and e-commerce platforms, with a focus on branded footwear and lifestyle products.

Genesco operates several retail banners, including Journeys, which sells trend-focused footwear, apparel and accessories for young consumers; Schuh, a footwear retailer serving the United Kingdom, Ireland and other markets; Johnston & Murphy, a heritage brand offering footwear, apparel, leather goods and accessories; and Little Burgundy, a Canadian footwear retailer.

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