Genesco (NYSE:GCO) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Genesco shares moved above their 200-day moving average of $33.84, reaching $34.15 before last trading at $33.3180 on volume of 208,981 shares.
• Analyst sentiment is mixed but leans positive, with a consensus rating of “Moderate Buy” and a $36.00 target price. Recent actions included Truist lowering its target to $38 and Zacks upgrading the stock to “strong buy.”
• Genesco exceeded quarterly expectations, reporting a loss of $0.83 per share versus the expected $1.37 loss and revenue of $529.86 million versus $527.26 million expected. Institutional investors own 94.51% of the company, while insiders own 23.11%.

Genesco Inc. (NYSE:GCO - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $33.84 and traded as high as $34.15. Genesco shares last traded at $33.3180, with a volume of 208,981 shares traded.

Analyst Ratings Changes

Several research firms have recently commented on GCO. Truist Financial lowered their price objective on shares of Genesco from $40.00 to $38.00 and set a "hold" rating for the company in a research note on Friday, September 4th. Zacks Research raised Genesco from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 4th. Wall Street Zen cut shares of Genesco from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Seaport Research Partners downgraded Genesco from a "buy" rating to a "neutral" rating in a report on Wednesday, May 27th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Genesco in a report on Wednesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $36.00.

Genesco Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.58 and a quick ratio of 0.32. The company has a 50 day moving average price of $35.64 and a 200 day moving average price of $33.84. The firm has a market cap of $360.50 million, a PE ratio of 8.68 and a beta of 1.80.

Genesco (NYSE:GCO - Get Free Report) last announced its quarterly earnings data on Thursday, September 3rd. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.54. The company had revenue of $529.86 million for the quarter, compared to analysts' expectations of $527.26 million. Genesco had a net margin of 1.71% and a return on equity of 3.14%. During the same period in the previous year, the company posted ($1.79) EPS. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Sell-side analysts expect that Genesco Inc. will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling at Genesco

In other news, Director Gregory Sandfort purchased 2,958 shares of the company's stock in a transaction dated Thursday, July 9th. The shares were acquired at an average cost of $33.80 per share, for a total transaction of $99,980.40. Following the completion of the purchase, the director directly owned 29,172 shares in the company, valued at $986,013.60. The trade was a 11.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Genesco

A number of hedge funds have recently added to or reduced their stakes in GCO. Pzena Investment Management LLC purchased a new stake in Genesco in the 2nd quarter valued at approximately $37,104,000. BlackRock Inc. purchased a new position in shares of Genesco during the 2nd quarter worth approximately $30,730,000. Fund 1 Investments LLC lifted its holdings in shares of Genesco by 43.4% in the 2nd quarter. Fund 1 Investments LLC now owns 609,963 shares of the company's stock valued at $20,598,000 after buying an additional 184,653 shares during the period. UBS Group AG lifted its holdings in shares of Genesco by 38.3% in the 4th quarter. UBS Group AG now owns 174,947 shares of the company's stock valued at $4,333,000 after buying an additional 48,436 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Genesco in the second quarter valued at approximately $3,190,000. Institutional investors and hedge funds own 94.51% of the company's stock.

Genesco Company Profile

Genesco Inc is a specialty retailer of branded footwear and accessories, serving consumers through stores and digital commerce channels. The company is headquartered in Nashville, Tennessee, and operates primarily in North America and the United Kingdom.

Genesco's business includes Journeys, a retailer focused on fashionable footwear and accessories for teens and young adults; Schuh, a footwear retailer serving the United Kingdom and Ireland; and Johnston & Murphy, which offers footwear, apparel, and accessories through retail stores and e-commerce.

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