Genesco Inc. (NYSE:GCO) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts hold a “Moderate Buy” consensus on Genesco, with two strong-buy ratings and three hold ratings. The average 12-month price target is $36.00.
• Genesco opened at $37.05, with a market capitalization of approximately $400.9 million and a P/E ratio of 9.65. Its shares have traded between $21.92 and $43.60 over the past year.
• The company beat quarterly earnings expectations, reporting a loss of $0.83 per share versus the projected $1.37 loss, while revenue reached $529.86 million. Institutional investors and hedge funds own approximately 94.5% of the stock.

Genesco Inc. (NYSE:GCO - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the five analysts that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $36.00.

A number of equities analysts recently weighed in on GCO shares. Truist Financial reduced their target price on shares of Genesco from $40.00 to $38.00 and set a "hold" rating for the company in a research note on Friday, September 4th. Weiss Ratings upgraded Genesco from a "sell (d+)" rating to a "hold (c)" rating in a report on Tuesday, September 22nd. Zacks Research raised Genesco from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 4th. Finally, Wall Street Zen upgraded Genesco from a "hold" rating to a "buy" rating in a report on Monday, October 19th.

Genesco Stock Up 0.2%

Shares of Genesco stock opened at $37.05 on Monday. The company has a quick ratio of 0.32, a current ratio of 1.58 and a debt-to-equity ratio of 0.03. The stock has a market cap of $400.85 million, a PE ratio of 9.65 and a beta of 1.81. The business has a fifty day simple moving average of $34.97 and a 200 day simple moving average of $35.45. Genesco has a 12 month low of $21.92 and a 12 month high of $43.60.

Genesco (NYSE:GCO - Get Free Report) last announced its quarterly 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. Genesco had a net margin of 1.71% and a return on equity of 3.14%. The business had revenue of $529.86 million for the quarter, compared to the consensus estimate of $527.26 million. During the same period last year, the company posted ($1.79) EPS. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Research analysts predict that Genesco will post 2.35 EPS for the current year.

Institutional Trading of Genesco

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

About Genesco

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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