Genesco Inc. (NYSE:GCO) Given Average Rating of "Hold" by Analysts

Key Points

• Genesco has a consensus “Hold” rating from five analysts: three holds, one sell and one strong buy. The average 12-month price target is $36.67, roughly in line with the stock’s $36.94 opening price.
• The company beat quarterly expectations, reporting a loss of $2.18 per share versus the $2.58 consensus estimate, while revenue of $487.03 million exceeded estimates of $474.32 million.
• Insiders own 23.11% of Genesco, and institutional investors and hedge funds control 94.51% of the shares. Director Gregory A. Sandfort recently increased his stake by 11.28% through a purchase of nearly $100,000 in stock.

Genesco Inc. (NYSE:GCO - Get Free Report) has earned a consensus rating of "Hold" from the five research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $36.6667.

Several research firms have issued reports on GCO. Truist Financial set a $40.00 price target on shares of Genesco in a research report on Friday, May 29th. Wall Street Zen downgraded Genesco from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Weiss Ratings lowered Genesco from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday, June 12th. Seaport Research Partners lowered Genesco from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 27th. Finally, Zacks Research lowered Genesco from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 31st.

Insiders Place Their Bets

In related news, Director Gregory A. Sandfort acquired 2,958 shares of the business's stock in a transaction on Thursday, July 9th. The shares were purchased at an average price of $33.80 per share, for a total transaction of $99,980.40. Following the acquisition, the director owned 29,172 shares in the company, valued at approximately $986,013.60. This represents 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 the SEC website. Corporate insiders own 23.11% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GCO. New York State Teachers Retirement System acquired a new stake in shares of Genesco during the first quarter valued at approximately $27,000. Group One Trading LLC acquired a new position in Genesco in the 4th quarter worth approximately $26,000. Optiver Holding B.V. boosted its stake in Genesco by 550.6% in the 1st quarter. Optiver Holding B.V. now owns 1,106 shares of the company's stock worth $32,000 after purchasing an additional 936 shares during the period. Jones Financial Companies Lllp purchased a new position in Genesco during the 1st quarter worth approximately $26,000. Finally, Meeder Asset Management Inc. purchased a new position in Genesco during the 2nd quarter worth approximately $48,000. 94.51% of the stock is currently owned by institutional investors and hedge funds.

Genesco Price Performance

Shares of Genesco stock opened at $36.94 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 0.37 and a debt-to-equity ratio of 0.08. The company's 50-day moving average price is $36.65 and its two-hundred day moving average price is $32.83. Genesco has a 52 week low of $21.92 and a 52 week high of $43.60. The stock has a market cap of $410.39 million, a PE ratio of 21.35 and a beta of 1.83.

Genesco (NYSE:GCO - Get Free Report) last posted its quarterly earnings data on Friday, May 29th. The company reported ($2.18) earnings per share for the quarter, beating the consensus estimate of ($2.58) by $0.40. Genesco had a net margin of 0.80% and a return on equity of 2.66%. The company had revenue of $487.03 million during the quarter, compared to analyst estimates of $474.32 million. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. As a group, sell-side analysts anticipate that Genesco will post 2.25 EPS for the current fiscal year.

About Genesco

Genesco Inc is a Nashville, Tennessee-based retailer, wholesaler and licensee specializing in branded footwear, headwear, apparel and accessories. Through its portfolio of retail chains, wholesale distribution channels and licensing agreements, Genesco brings a range of product offerings to consumers in North America and Europe.

The company's retail segment includes specialty chains such as Journeys, which targets fashion-focused teens and young adults in the United States and Canada, and Schuh, a footwear retailer with locations in the United Kingdom and Ireland.

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