Genesco Inc. (NYSE:GCO) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Genesco has a consensus analyst rating of "Moderate Buy", with five analysts covering the stock: two strong buys, two holds, and one sell. The average 12-month price target is about $36.67.
• The company recently beat earnings and revenue estimates, reporting EPS of ($2.18) versus the expected ($2.58) and revenue of $487.03 million versus the expected $474.32 million.
• Insider and institutional activity has been active, including a director purchase of 2,958 shares at $33.80, while institutional investors now own 94.51% of the stock.

Shares of Genesco Inc. (NYSE:GCO - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $36.6667.

Several brokerages have commented on GCO. Wall Street Zen lowered shares of Genesco from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Seaport Research Partners cut shares of Genesco from a "buy" rating to a "neutral" rating in a report on Wednesday, May 27th. Weiss Ratings downgraded shares of Genesco from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, June 12th. Zacks Research raised shares of Genesco from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 2nd. Finally, Truist Financial set a $40.00 price target on shares of Genesco in a research note on Friday, May 29th.

Genesco Trading Down 1.0%

NYSE:GCO opened at $36.95 on Friday. Genesco has a 1 year low of $21.92 and a 1 year high of $43.60. The stock has a market cap of $410.55 million, a P/E ratio of 21.36 and a beta of 1.83. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.37 and a current ratio of 1.83. The stock has a 50-day simple moving average of $35.71 and a 200-day simple moving average of $31.98.

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

Insider Activity

In other news, Director Gregory A. Sandfort acquired 2,958 shares of the company's stock in a transaction on Thursday, July 9th. The shares were bought at an average price of $33.80 per share, with a total value of $99,980.40. Following the completion of the acquisition, the director owned 29,172 shares in the company, valued at $986,013.60. This trade represents a 11.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.11% of the company's stock.

Institutional Trading of Genesco

Large investors have recently made changes to their positions in the company. Royal Bank of Canada increased its position in Genesco by 15.4% during the first quarter. Royal Bank of Canada now owns 52,848 shares of the company's stock worth $1,122,000 after buying an additional 7,042 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Genesco in the first quarter valued at approximately $26,000. Empowered Funds LLC boosted its holdings in shares of Genesco by 5.3% in the first quarter. Empowered Funds LLC now owns 64,783 shares of the company's stock valued at $1,375,000 after acquiring an additional 3,282 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Genesco in the second quarter valued at approximately $208,000. Finally, Russell Investments Group Ltd. grew its position in shares of Genesco by 31.4% during the second quarter. Russell Investments Group Ltd. now owns 17,845 shares of the company's stock worth $351,000 after acquiring an additional 4,268 shares during the last quarter. 94.51% of the stock is owned by institutional investors and hedge funds.

Genesco Company Profile

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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