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

Key Points

• Analyst sentiment is moderately positive: Five brokerages give Genesco an average “Moderate Buy” rating, with a $36.00 average 12-month price target. Ratings include three holds and two strong buys.
• Quarterly results exceeded expectations: Genesco reported a loss of $0.83 per share versus the estimated $1.37 loss, while revenue reached $529.86 million, slightly above consensus.
• Ownership remains heavily institutional: Institutional investors hold 94.51% of Genesco’s shares, while insiders own 23.11%; director Gregory Sandfort also increased his position by purchasing nearly $100,000 in stock.

Shares of Genesco Inc. (NYSE:GCO - Get Free Report) have received an average recommendation of "Moderate Buy" from the five ratings firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $36.00.

A number of brokerages have recently issued reports on GCO. Truist Financial lowered their price target on Genesco from $40.00 to $38.00 and set a "hold" rating on the stock in a research note on Friday, September 4th. Zacks Research raised Genesco from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 4th. Wall Street Zen cut shares of Genesco from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Finally, Weiss Ratings raised shares of Genesco from a "sell (d+)" rating to a "hold (c)" rating in a report on Tuesday, September 22nd.

Genesco Stock Down 1.0%

GCO opened at $34.17 on Thursday. The company has a market cap of $369.74 million, a PE ratio of 8.90 and a beta of 1.80. Genesco has a twelve month low of $21.92 and a twelve month high of $43.60. The company has a 50-day moving average price of $35.38 and a 200 day moving average price of $34.36. 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 (NYSE:GCO - Get Free Report) last posted its quarterly earnings data on Thursday, September 3rd. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $527.26 million. During the same period in the previous year, the firm posted ($1.79) EPS. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Sell-side analysts expect that Genesco will post 2.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Genesco

In other Genesco news, Director Gregory Sandfort purchased 2,958 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were purchased at an average cost of $33.80 per share, for a total transaction of $99,980.40. Following the completion of the transaction, the director owned 29,172 shares of the company's stock, valued at $986,013.60. The trade was a 11.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 23.11% of the company's stock.

Institutional Trading of Genesco

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

Genesco Company Profile

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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