Wall Street Zen Upgrades Genesco (NYSE:GCO) to "Buy"

Key Points

• Genesco (NYSE:GCO) has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating a positive shift in analyst perspective.
• Analysts have also revised their price targets for Genesco, with Truist Financial raising it to $31.00 and Jefferies Financial Group to $29.00, both maintaining a "hold" rating.
• Genesco reported a quarterly earnings per share of ($1.14), exceeding estimates and showing a 4.0% increase in revenue year-over-year.

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

Other equities analysts have also issued reports about the stock. Truist Financial lifted their price target on shares of Genesco from $25.00 to $31.00 and gave the stock a "hold" rating in a report on Friday, August 29th. Jefferies Financial Group lifted their price target on shares of Genesco from $24.00 to $29.00 and gave the stock a "hold" rating in a report on Friday, August 29th. Zacks Research raised shares of Genesco from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Seaport Res Ptn raised shares of Genesco from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Genesco in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.00.

Genesco Stock Performance

Shares of GCO stock opened at $26.17 on Friday. The firm has a market cap of $282.64 million, a price-to-earnings ratio of -10.73 and a beta of 2.27. The company's 50 day moving average is $29.69 and its 200 day moving average is $24.33. The company has a quick ratio of 0.35, a current ratio of 1.56 and a debt-to-equity ratio of 0.11. Genesco has a 52-week low of $16.19 and a 52-week high of $44.80.

Genesco (NYSE:GCO - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.25) by $0.11. The company had revenue of $545.97 million for the quarter, compared to analyst estimates of $531.89 million. Genesco had a negative net margin of 1.03% and a positive return on equity of 1.75%. Genesco's revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted ($0.83) earnings per share. 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 EPS for the current fiscal year.

Institutional Investors Weigh In On Genesco

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp acquired a new stake in shares of Genesco during the first quarter worth $26,000. CWM LLC lifted 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 worth $27,000 after buying an additional 520 shares during the period. Virtus Advisers LLC acquired a new position in Genesco during the first quarter valued at $56,000. AlphaQuest LLC boosted its holdings in Genesco by 501,200.0% in the first quarter. AlphaQuest LLC now owns 5,013 shares of the company's stock valued at $106,000 after purchasing an additional 5,012 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Genesco by 37.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,514 shares of the company's stock valued at $109,000 after purchasing an additional 1,499 shares during the last quarter. 94.51% of the stock is currently owned by institutional investors and hedge funds.

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.

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