Genesco (NYSE:GCO) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Genesco from a "hold" to a "buy" rating in a research note issued Saturday.
• Despite the upgrade, analysts remain mixed with one Strong Buy, three Holds and one Sell, leaving a consensus rating of "Hold" and an average price target of $34.00.
• Genesco reported $3.74 EPS (beat by $0.01) and revenue of $799.94M (well above expectations), set FY2027 guidance of 1.90–2.30 EPS, and its shares trade around $27.94 with a market cap near $303M.

Genesco (NYSE:GCO - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

A number of other equities analysts have also commented on the stock. Jefferies Financial Group reaffirmed a "hold" rating on shares of Genesco in a research note on Friday, March 6th. UBS Group set a $38.00 target price on shares of Genesco in a research note on Friday, December 5th. Williams Trading raised Genesco to a "strong-buy" rating in a research report on Monday, January 12th. Zacks Research upgraded Genesco from a "strong sell" rating to a "hold" rating in a report on Wednesday, January 14th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Genesco in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $34.00.

Genesco Price Performance

NYSE GCO opened at $27.94 on Friday. The stock's 50-day moving average price is $28.45 and its two-hundred day moving average price is $29.16. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.01. The company has a market cap of $303.38 million, a PE ratio of 24.72 and a beta of 1.86. Genesco has a 1 year low of $16.19 and a 1 year high of $38.95.

Genesco (NYSE:GCO - Get Free Report) last announced its earnings results on Friday, March 6th. The company reported $3.74 EPS for the quarter, topping the consensus estimate of $3.73 by $0.01. The company had revenue of $799.94 million during the quarter, compared to analysts' expectations of $476.67 million. Genesco had a net margin of 0.54% and a return on equity of 2.92%. Genesco has set its FY 2027 guidance at 1.900-2.300 EPS. On average, analysts predict that Genesco will post 0.94 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. ING Groep NV boosted its holdings in Genesco by 90.9% in the third quarter. ING Groep NV now owns 210,000 shares of the company's stock worth $6,088,000 after purchasing an additional 100,000 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Genesco by 5,053.8% during the third quarter. New York State Common Retirement Fund now owns 4,793 shares of the company's stock valued at $139,000 after buying an additional 4,700 shares in the last quarter. Summit Global Investments bought a new position in Genesco during the third quarter valued at about $264,000. Campbell & CO Investment Adviser LLC lifted its position in shares of Genesco by 36.2% in the third quarter. Campbell & CO Investment Adviser LLC now owns 14,888 shares of the company's stock worth $432,000 after buying an additional 3,959 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Genesco in the third quarter worth about $218,000. Institutional investors own 94.51% of the company's stock.

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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