Genesco (NYSE:GCO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Genesco (NYSE:GCO) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other research firms also recently commented on GCO. Truist Financial raised their price target on shares of Genesco from $25.00 to $31.00 and gave the stock a “hold” rating in a research note on Friday, August 29th. Zacks Research upgraded shares of Genesco from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Genesco in a research note on Wednesday, October 8th. Jefferies Financial Group upped their price objective on shares of Genesco from $24.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, August 29th. Finally, Seaport Res Ptn upgraded shares of Genesco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Two investment 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 stock. According to data from MarketBeat, Genesco currently has an average rating of “Moderate Buy” and an average target price of $30.00.

Genesco Stock Up 5.4%

Shares of Genesco stock opened at $27.57 on Friday. The company has a market cap of $297.76 million, a price-to-earnings ratio of -11.30 and a beta of 2.27. The company’s 50 day moving average is $29.75 and its 200 day moving average is $24.41. Genesco has a twelve month low of $16.19 and a twelve month high of $44.80. 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 (NYSE:GCO) last announced its quarterly earnings data 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. The firm had revenue of $545.97 million during the quarter, compared to analysts’ expectations of $531.89 million. Genesco had a negative net margin of 1.03% and a positive return on equity of 1.75%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.83) earnings per share. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. Research analysts anticipate that Genesco will post 0.94 EPS for the current year.

Hedge Funds Weigh In On Genesco

A number of hedge funds have recently modified their holdings of GCO. Nomura Holdings Inc. acquired a new position in shares of Genesco during the 1st quarter valued at about $16,163,000. Pzena Investment Management LLC boosted its stake in Genesco by 44.4% during the second quarter. Pzena Investment Management LLC now owns 1,433,190 shares of the company’s stock valued at $28,220,000 after buying an additional 440,837 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Genesco by 371.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock valued at $5,365,000 after purchasing an additional 214,639 shares during the period. Shay Capital LLC purchased a new stake in shares of Genesco during the 2nd quarter worth about $4,027,000. Finally, Vanguard Group Inc. raised its stake in shares of Genesco by 23.9% in the 1st quarter. Vanguard Group Inc. now owns 899,123 shares of the company’s stock valued at $19,088,000 after acquiring an additional 173,255 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.