Genesco (NYSE:GCO) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Genesco from “hold” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $36.00.
• Genesco’s latest quarterly results beat expectations, reporting a loss of $0.83 per share versus the consensus estimate of a $1.37 loss, alongside revenue of $529.86 million.
• Institutional investors own 94.51% of Genesco, while insiders hold 23.11%; director Gregory Sandfort also increased his stake by purchasing nearly 3,000 shares.

Genesco (NYSE:GCO - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

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

Genesco Stock Down 0.1%

Shares of GCO opened at $34.77 on Friday. The stock has a market capitalization of $376.21 million, a price-to-earnings ratio of 9.05 and a beta of 1.81. Genesco has a 1 year low of $21.92 and a 1 year high of $43.60. The business's 50 day simple moving average is $35.36 and its 200-day simple moving average is $34.43. 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 earnings results on Thursday, September 3rd. The company reported ($0.83) earnings per share for the quarter, beating analysts' consensus estimates of ($1.37) by $0.54. The firm had revenue of $529.86 million during 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 period last 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, equities analysts expect that Genesco will post 2.35 earnings per share for the current fiscal year.

Insider Activity at Genesco

In other Genesco news, Director Gregory Sandfort purchased 2,958 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The stock was purchased at an average cost of $33.80 per share, with a total value of $99,980.40. Following the purchase, the director owned 29,172 shares of the company's stock, valued at approximately $986,013.60. The trade was a 11.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 23.11% of the company's stock.

Hedge Funds Weigh In On Genesco

Several hedge funds have recently bought and sold shares of GCO. WINTON GROUP Ltd bought a new position in Genesco in the second quarter worth approximately $209,000. Engineers Gate Manager LP purchased a new stake in shares of Genesco in the 2nd quarter worth $512,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Genesco in the 2nd quarter worth $25,000. Penn Capital Management Company LLC bought a new position in shares of Genesco during the 2nd quarter worth $531,000. Finally, Empowered Funds LLC bought a new position in shares of Genesco during the 2nd quarter worth $3,148,000. Institutional investors own 94.51% of the company's stock.

About Genesco

Genesco Inc is a specialty retailer of branded footwear and accessories, serving consumers through stores and digital commerce channels. The company is headquartered in Nashville, Tennessee, and operates primarily in North America and the United Kingdom.

Genesco's business includes Journeys, a retailer focused on fashionable footwear and accessories for teens and young adults; Schuh, a footwear retailer serving the United Kingdom and Ireland; and Johnston & Murphy, which offers footwear, apparel, and accessories through retail stores and e-commerce.

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