Genesco (NYSE:GCO) Upgraded to Strong-Buy at Seaport Res Ptn

Key Points

• Seaport Res Ptn upgraded Genesco (NYSE:GCO) from a "hold" rating to a "strong-buy" rating, reflecting increased confidence in the company's performance.
• Genesco reported a revenue increase of 3.6% year-over-year for Q1, with earnings per share slightly above analyst expectations at ($2.05).
• The stock has a consensus rating of "Moderate Buy" among analysts, with an average target price of $24.50, despite some recent downgrades from other financial institutions.

Seaport Res Ptn upgraded shares of Genesco (NYSE:GCO - Free Report) from a hold rating to a strong-buy rating in a research report released on Tuesday,Zacks.com reports. Seaport Res Ptn also issued estimates for Genesco's Q2 2026 earnings at ($1.23) EPS, Q3 2026 earnings at $1.06 EPS, Q4 2026 earnings at $3.80 EPS, FY2026 earnings at $1.62 EPS, FY2027 earnings at $2.25 EPS and FY2028 earnings at $2.90 EPS.

A number of other equities analysts also recently issued reports on GCO. Wall Street Zen downgraded Genesco from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Truist Financial raised their price objective on Genesco from $23.00 to $25.00 and gave the company a "hold" rating in a research report on Thursday, June 5th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $24.00 price objective (down previously from $27.00) on shares of Genesco in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Genesco presently has an average rating of "Moderate Buy" and an average price target of $30.00.

Genesco Stock Up 3.7%

Shares of GCO traded up $1.14 during midday trading on Tuesday, reaching $32.18. 315,083 shares of the stock were exchanged, compared to its average volume of 224,868. Genesco has a 52 week low of $16.19 and a 52 week high of $44.80. The company has a current ratio of 1.56, a quick ratio of 0.35 and a debt-to-equity ratio of 0.11. The company's 50 day moving average is $24.77 and its two-hundred day moving average is $23.92. The company has a market capitalization of $346.92 million, a P/E ratio of -13.19 and a beta of 2.22.

Genesco (NYSE:GCO - Get Free Report) last posted its quarterly earnings results on Thursday, August 28th. The company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.25) by $0.11. Genesco had a positive return on equity of 1.75% and a negative net margin of 1.03%.The business had revenue of $545.97 million for the quarter, compared to the consensus estimate of $531.89 million. During the same quarter in the prior year, the company earned ($0.83) EPS. The business's revenue was up 4.0% compared to the same quarter last year. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. On average, sell-side analysts anticipate that Genesco will post 0.94 earnings per share for the current year.

Insider Buying and Selling

In other Genesco news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $23.26, for a total value of $581,500.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 23.11% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GCO. Tower Research Capital LLC TRC raised its position in Genesco by 37.3% during the second quarter. Tower Research Capital LLC TRC now owns 5,514 shares of the company's stock valued at $109,000 after acquiring an additional 1,499 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in Genesco during the second quarter valued at approximately $2,954,000. Shay Capital LLC purchased a new position in Genesco during the second quarter valued at approximately $4,027,000. Engineers Gate Manager LP purchased a new position in Genesco during the second quarter valued at approximately $264,000. Finally, Bridgeway Capital Management LLC raised its position in Genesco by 29.7% during the second quarter. Bridgeway Capital Management LLC now owns 238,252 shares of the company's stock valued at $4,691,000 after acquiring an additional 54,498 shares in the last quarter. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

Genesco Company Profile

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.