Genesco (NYSE:GCO) Given New $29.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies Financial Group increased Genesco's price target from $24.00 to $29.00, suggesting a potential downside of 6.11% from its previous close while maintaining a "hold" rating on the stock.
• Genesco recently reported an earnings per share (EPS) of ($1.14), beating analysts' estimates, with a quarterly revenue of $545.97 million, reflecting a 4.0% increase compared to the same period last year.
• The company has a strong institutional investor presence, with 94.51% of its stock owned by institutional investors and hedge funds, indicating robust support from financial entities.

Genesco (NYSE:GCO - Get Free Report) had its price target boosted by investment analysts at Jefferies Financial Group from $24.00 to $29.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "hold" rating on the stock. Jefferies Financial Group's price objective suggests a potential downside of 6.11% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Genesco from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Seaport Res Ptn upgraded Genesco from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Finally, Truist Financial upped their price objective on Genesco from $23.00 to $25.00 and gave the stock a "hold" rating in a report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $27.00.

Genesco Trading Down 6.4%

Shares of GCO opened at $30.89 on Friday. The company has a market capitalization of $332.97 million, a PE ratio of -19.80 and a beta of 2.25. The stock has a fifty day moving average of $24.35 and a two-hundred day moving average of $24.24. Genesco has a fifty-two week low of $16.19 and a fifty-two week high of $44.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.55 and a current ratio of 1.91.

Genesco (NYSE:GCO - Get Free Report) last released its earnings results on Thursday, August 28th. The company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.25) by $0.11. The firm had revenue of $545.97 million during the quarter, compared to analyst estimates of $531.89 million. Genesco had a positive return on equity of 2.22% and a negative net margin of 0.67%.The business's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.83) earnings per share. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. As a group, analysts forecast that Genesco will post 0.94 EPS for the current year.

Insider Buying and Selling at Genesco

In other news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $23.26, for a total transaction of $581,500.00. Following the completion of the sale, the insider directly owned 1,072,850 shares in the company, valued at $24,954,491. This trade represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genesco

A number of hedge funds have recently bought and sold shares of the business. Pzena Investment Management LLC grew its stake in Genesco by 44.4% during the 2nd quarter. Pzena Investment Management LLC now owns 1,433,190 shares of the company's stock valued at $28,220,000 after purchasing an additional 440,837 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Genesco by 23.9% during the first quarter. Vanguard Group Inc. now owns 899,123 shares of the company's stock worth $19,088,000 after buying an additional 173,255 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Genesco during the 1st quarter worth $16,163,000. Acadian Asset Management LLC grew its stake in Genesco by 0.3% in the second quarter. Acadian Asset Management LLC now owns 412,527 shares of the company's stock worth $8,119,000 after purchasing an additional 1,238 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Genesco by 23.5% in the first quarter. American Century Companies Inc. now owns 341,837 shares of the company's stock worth $7,257,000 after purchasing an additional 65,030 shares in the last quarter. Institutional investors and hedge funds own 94.51% of the company's stock.

About Genesco

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories in the United States, Puerto Rico, Canada, the United Kingdom, and the Republic of Ireland. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Genesco Brands.

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