Seaport Res Ptn Upgrades Genesco (NYSE:GCO) to "Strong-Buy"

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.

Genesco (NYSE:GCO - Get Free Report) was upgraded by research analysts at Seaport Res Ptn from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports. Seaport Res Ptn also issued estimates for Genesco's 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 analysts also recently weighed in on GCO. Truist Financial boosted their target price on Genesco from $23.00 to $25.00 and gave the stock a "hold" rating in a research report on Thursday, June 5th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $24.00 price target (down from $27.00) on shares of Genesco in a research note on Wednesday, May 21st. Finally, Wall Street Zen cut Genesco from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $24.50.

Genesco Stock Performance

NYSE:GCO opened at $32.06 on Tuesday. The business has a 50 day moving average of $23.92 and a 200 day moving average of $24.24. The company has a market capitalization of $345.52 million, a price-to-earnings ratio of -20.55 and a beta of 2.25. Genesco has a 1-year low of $16.19 and a 1-year high of $44.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.91 and a quick ratio of 0.55.

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

Insider Activity

In other news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $24,954,491. The trade was a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 23.11% of the company's stock.

Hedge Funds Weigh In On Genesco

Several hedge funds have recently made changes to their positions in GCO. Jones Financial Companies Lllp purchased a new position in shares of Genesco during the first quarter valued at approximately $26,000. CWM LLC increased its stake in shares of Genesco by 61.5% during the second quarter. CWM LLC now owns 1,365 shares of the company's stock valued at $27,000 after buying an additional 520 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Genesco during the fourth quarter valued at approximately $35,000. Virtus Advisers LLC purchased a new position in shares of Genesco during the first quarter valued at approximately $56,000. Finally, AlphaQuest LLC increased its stake in shares of Genesco by 501,200.0% during the first quarter. AlphaQuest LLC now owns 5,013 shares of the company's stock valued at $106,000 after buying an additional 5,012 shares during the period. 94.51% of the stock is owned by hedge funds and other 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.

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