Genesco (NYSE:GCO) Stock Rating Upgraded by Wall Street Zen

by · The Cerbat Gem

Genesco (NYSE:GCO – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts have also issued reports about the stock. Weiss Ratings raised shares of Genesco from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Truist Financial dropped their price objective on shares of Genesco from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, September 4th. Finally, Zacks Research raised Genesco from a “hold” rating to a “strong-buy” rating in a report on Friday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.00.

Read Our Latest Report on Genesco

Genesco Stock Performance

Genesco stock opened at $34.77 on Friday. The stock has a 50-day simple moving average of $35.36 and a 200 day simple moving average of $34.49. The company has a quick ratio of 0.32, a current ratio of 1.58 and a debt-to-equity ratio of 0.03. Genesco has a 12-month low of $21.92 and a 12-month high of $43.60. The stock has a market capitalization of $376.21 million, a price-to-earnings ratio of 9.05 and a beta of 1.81.

Genesco (NYSE:GCO – Get Free Report) last issued its quarterly earnings results on Thursday, September 3rd. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.54. The business had revenue of $529.86 million for the quarter, compared to the consensus estimate of $527.26 million. Genesco had a net margin of 1.71% and a return on equity of 3.14%. During the same quarter in the prior year, the company earned ($1.79) EPS. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. On average, research analysts anticipate that Genesco will post 2.35 earnings per share for the current fiscal year.

Insider Activity

In other Genesco news, Director Gregory Sandfort bought 2,958 shares of Genesco stock in a transaction dated Thursday, July 9th. The shares were bought at an average price of $33.80 per share, with a total value of $99,980.40. Following the purchase, the director owned 29,172 shares of the company’s stock, valued at $986,013.60. This trade represents a 11.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 23.11% of the company’s stock.

Institutional Investors Weigh In On Genesco

A number of institutional investors and hedge funds have recently modified their holdings of GCO. Pzena Investment Management LLC bought a new position in Genesco in the second quarter valued at approximately $37,104,000. BlackRock Inc. bought a new stake in shares of Genesco during the 2nd quarter valued at $30,730,000. Fund 1 Investments LLC raised its position in shares of Genesco by 43.4% during the 2nd quarter. Fund 1 Investments LLC now owns 609,963 shares of the company’s stock valued at $20,598,000 after acquiring an additional 184,653 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Genesco in the 2nd quarter valued at $3,190,000. Finally, Ancora Advisors LLC bought a new position in shares of Genesco in the 2nd quarter worth $3,187,000. 94.51% of the stock is owned by institutional investors.

About Genesco

(Get Free Report)

Genesco Inc is a Nashville, Tennessee-based specialty retailer and branded footwear company. Founded in 1924 as General Shoe Corporation, the company changed its name to Genesco in 1959. It operates retail stores and e-commerce websites offering footwear, apparel and accessories through a portfolio of lifestyle and fashion brands.

Genesco’s principal retail businesses include Journeys and Journeys Kidz, which focus on trend-oriented footwear and apparel for young consumers, and Schuh, a footwear retailer serving customers in the United Kingdom and Ireland.

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