Genesco (NYSE:GCO) Stock Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Genesco Inc. (NYSE:GCO) shares have surpassed their 200-day moving average of $24.65, trading as high as $26.37, while the latest price is $25.79.
• Recent analyst activity includes a downgrade from Wall Street Zen from "buy" to "hold," while Truist Financial has lifted their price target from $23.00 to $25.00, maintaining a "hold" rating.
• The company's quarterly earnings showed a positive surprise, reporting ($2.05) earnings per share, which beat estimates, alongside a 3.6% increase in revenue year-over-year.

Genesco Inc. (NYSE:GCO - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.65 and traded as high as $26.37. Genesco shares last traded at $25.79, with a volume of 175,041 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GCO shares. Wall Street Zen downgraded shares of Genesco from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Truist Financial increased their price target on Genesco from $23.00 to $25.00 and gave the stock a "hold" rating in a report on Thursday, June 5th. Finally, Jefferies Financial Group restated a "hold" rating and set a $24.00 price target (down from $27.00) on shares of Genesco in a report on Wednesday, May 21st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Genesco currently has an average rating of "Hold" and an average price target of $24.50.

Genesco Trading Up 5.3%

The business has a fifty day moving average of $23.59 and a 200-day moving average of $24.39. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.55 and a current ratio of 1.91. The company has a market capitalization of $306.89 million, a P/E ratio of -18.25 and a beta of 2.25.

Genesco (NYSE:GCO - Get Free Report) last issued its earnings results on Wednesday, June 4th. The company reported ($2.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.09) by $0.04. Genesco had a positive return on equity of 2.22% and a negative net margin of 0.67%.The company had revenue of $473.97 million for the quarter, compared to analysts' expectations of $463.90 million. During the same period last year, the business earned ($2.10) EPS. Genesco's quarterly revenue was up 3.6% compared to the same quarter last year. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. Analysts anticipate that Genesco Inc. will post 0.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Genesco news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $23.26, for a total transaction of $581,500.00. Following the transaction, the insider directly owned 1,072,850 shares in the company, valued at approximately $24,954,491. This trade represents a 2.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 23.11% of the company's stock.

Hedge Funds Weigh In On Genesco

Several large investors have recently bought and sold shares of GCO. Nomura Holdings Inc. bought a new position in Genesco during the 1st quarter valued at $16,163,000. Pzena Investment Management LLC lifted 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 acquiring an additional 440,837 shares in the last quarter. Fund 1 Investments LLC lifted its stake in Genesco by 1,045.4% during the 4th quarter. Fund 1 Investments LLC now owns 242,965 shares of the company's stock valued at $10,387,000 after acquiring an additional 221,752 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Genesco by 371.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company's stock valued at $5,365,000 after acquiring an additional 214,639 shares in the last quarter. Finally, Shay Capital LLC bought a new position in Genesco during the 2nd quarter valued at $4,027,000. 94.51% of the stock is currently owned by institutional investors.

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.