Brokerages Set Genesco Inc. (NYSE:GCO) Price Target at $36.67

Shares of Genesco Inc. (NYSE:GCO) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $36.6667.

Several equities analysts have issued reports on GCO shares. Truist Financial set a $40.00 price objective on Genesco in a research report on Friday, May 29th. Jefferies Financial Group reiterated a “hold” rating on shares of Genesco in a research report on Friday, March 6th. Wall Street Zen downgraded Genesco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Seaport Research Partners cut Genesco from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings cut Genesco from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, June 12th.

Institutional Investors Weigh In On Genesco

Hedge funds and other institutional investors have recently made changes to their positions in the company. Group One Trading LLC acquired a new stake in shares of Genesco during the fourth quarter worth $26,000. Jones Financial Companies Lllp acquired a new stake in shares of Genesco during the first quarter worth $26,000. New York State Teachers Retirement System acquired a new stake in shares of Genesco during the first quarter worth $27,000. Optiver Holding B.V. grew its stake in shares of Genesco by 550.6% during the first quarter. Optiver Holding B.V. now owns 1,106 shares of the company’s stock worth $32,000 after purchasing an additional 936 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Genesco during the fourth quarter worth $37,000. 94.51% of the stock is owned by institutional investors and hedge funds.

Genesco Price Performance

Shares of GCO stock opened at $36.05 on Tuesday. The stock has a 50 day moving average of $36.04 and a two-hundred day moving average of $30.87. The company has a current ratio of 1.83, a quick ratio of 0.37 and a debt-to-equity ratio of 0.08. Genesco has a 12 month low of $19.62 and a 12 month high of $43.60. The company has a market capitalization of $400.52 million, a P/E ratio of 20.84 and a beta of 1.83.

Genesco (NYSE:GCO) last posted its earnings results on Friday, May 29th. The company reported ($2.18) EPS for the quarter, topping the consensus estimate of ($2.58) by $0.40. The business had revenue of $487.03 million during the quarter, compared to the consensus estimate of $474.33 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 analysts expect that Genesco will post 2.25 EPS for the current year.

About Genesco

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.