Genesco (NYSE:GCO) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Genesco from “buy” to “hold,” while the broader analyst consensus remains “Moderate Buy” with a $36.00 price target.
• Genesco’s latest quarterly results exceeded expectations, with an adjusted EPS loss of $0.83 versus the estimated $1.37 loss and revenue of $529.86 million versus the $527.26 million forecast.
• Institutional investors own 94.51% of Genesco’s shares, with several major funds—including BlackRock and Pzena Investment Management—recently acquiring stakes.

Genesco (NYSE:GCO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday, Wall Street Zen reports.

GCO has been the subject of several other research reports. Zacks Research raised Genesco from a "hold" rating to a "strong-buy" rating in a report on Friday, September 4th. Truist Financial decreased their price objective on shares of Genesco from $40.00 to $38.00 and set a "hold" rating on the stock in a report on Friday, September 4th. Finally, Weiss Ratings raised shares of Genesco from a "sell (d+)" rating to a "hold (c)" rating in a research report on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Genesco currently has an average rating of "Moderate Buy" and a consensus price target of $36.00.

Genesco Price Performance

Shares of NYSE GCO opened at $36.46 on Friday. The business's 50 day moving average price is $35.14 and its two-hundred day moving average price is $34.80. The company has a market cap of $394.50 million, a PE ratio of 9.49 and a beta of 1.81. The company has a quick ratio of 0.32, a current ratio of 1.58 and a debt-to-equity ratio of 0.03. Genesco has a twelve month low of $21.92 and a twelve month high of $43.60.

Genesco (NYSE:GCO - Get Free Report) last released its quarterly earnings data on Thursday, September 3rd. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.37) by $0.54. Genesco had a return on equity of 3.14% and a net margin of 1.71%. The company had revenue of $529.86 million during the quarter, compared to analysts' expectations of $527.26 million. During the same period last year, the firm posted ($1.79) earnings per share. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. On average, analysts predict that Genesco will post 2.35 EPS for the current year.

Institutional Trading of Genesco

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fund 1 Investments LLC grew its stake in Genesco by 43.4% during the second quarter. Fund 1 Investments LLC now owns 609,963 shares of the company's stock worth $20,598,000 after buying an additional 184,653 shares in the last quarter. BlackRock Inc. acquired a new position in Genesco during the 2nd quarter worth approximately $30,730,000. Bank of New York Mellon Corp acquired a new stake in Genesco in the second quarter valued at approximately $1,252,000. Empowered Funds LLC acquired a new stake in Genesco in the second quarter valued at approximately $3,148,000. Finally, Pzena Investment Management LLC acquired a new position in Genesco in the 2nd quarter valued at approximately $37,104,000. Institutional investors and hedge funds own 94.51% of the company's stock.

About Genesco

Genesco Inc is a Nashville, Tennessee-based specialty retailer and branded footwear company. Founded in 1924 as General Shoe Corporation, the company changed its name to Genesco in 1959. It operates retail stores and e-commerce websites offering footwear, apparel and accessories through a portfolio of lifestyle and fashion brands.

Genesco's principal retail businesses include Journeys and Journeys Kidz, which focus on trend-oriented footwear and apparel for young consumers, and Schuh, a footwear retailer serving customers in the United Kingdom and Ireland.

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