Genesco Inc. (NYSE:GCO) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Genesco Inc. (NYSE:GCO) have earned an average rating of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $36.6667.

GCO has been the topic of a number of research reports. Wall Street Zen downgraded shares of Genesco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Zacks Research cut shares of Genesco from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 31st. Truist Financial set a $40.00 price target on shares of Genesco in a research note on Friday, May 29th. Seaport Research Partners lowered shares of Genesco from a “buy” rating to a “neutral” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings cut shares of Genesco from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, June 12th.

Genesco Trading Up 0.4%

GCO stock opened at $34.78 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. Genesco has a twelve month low of $21.92 and a twelve month high of $43.60. The company has a market cap of $386.32 million, a P/E ratio of 20.11 and a beta of 1.83. The business has a fifty day moving average of $36.22 and a 200-day moving average of $32.90.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, May 29th. The company reported ($2.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.58) by $0.40. The business had revenue of $487.03 million for the quarter, compared to analysts’ expectations of $474.32 million. Genesco had a return on equity of 2.66% and a net margin of 0.80%.Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. As a group, equities research analysts expect that Genesco will post 2.25 EPS for the current year.

Insider Buying and Selling at Genesco

In related news, Director Gregory A. Sandfort purchased 2,958 shares of the business’s 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 directly owned 29,172 shares in the company, valued at $986,013.60. This trade represents a 11.28% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 23.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Genesco

Institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC bought a new position in Genesco during the second quarter worth about $37,104,000. UBS Group AG increased its stake in shares of Genesco by 38.3% in the 4th quarter. UBS Group AG now owns 174,947 shares of the company’s stock valued at $4,333,000 after acquiring an additional 48,436 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of Genesco by 361.6% in the 4th quarter. Corient Private Wealth LLC now owns 46,570 shares of the company’s stock valued at $1,154,000 after acquiring an additional 36,481 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Genesco by 1,183.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 16,524 shares of the company’s stock valued at $479,000 after acquiring an additional 15,237 shares during the period. Finally, Silver Oak Securities Incorporated boosted its stake in Genesco by 3.5% during the 1st quarter. Silver Oak Securities Incorporated now owns 18,688 shares of the company’s stock worth $542,000 after acquiring an additional 627 shares during the last quarter. 94.51% of the stock is owned by institutional investors and hedge funds.

Genesco Company Profile

Genesco Inc is a Nashville, Tennessee-based retailer, wholesaler and licensee specializing in branded footwear, headwear, apparel and accessories. Through its portfolio of retail chains, wholesale distribution channels and licensing agreements, Genesco brings a range of product offerings to consumers in North America and Europe.

The company’s retail segment includes specialty chains such as Journeys, which targets fashion-focused teens and young adults in the United States and Canada, and Schuh, a footwear retailer with locations in the United Kingdom and Ireland.