Genesco (NYSE:GCO) Given New $32.00 Price Target at Truist Financial

Genesco (NYSE:GCO) had its price target lowered by Truist Financial from $38.00 to $32.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 20.03% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group restated a “hold” rating on shares of Genesco in a research report on Friday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Genesco in a research note on Wednesday, December 24th. Zacks Research raised shares of Genesco from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. UBS Group set a $38.00 target price on shares of Genesco in a research report on Friday, December 5th. Finally, Williams Trading raised shares of Genesco to a “strong-buy” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $34.00.

Genesco Trading Up 2.2%

Shares of GCO stock opened at $26.66 on Monday. The stock has a market cap of $287.66 million, a P/E ratio of 23.59 and a beta of 1.86. Genesco has a 1 year low of $16.19 and a 1 year high of $38.95. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $29.39 and a 200 day simple moving average of $29.67.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Friday, March 6th. The company reported $3.74 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.01. The firm had revenue of $799.94 million for the quarter, compared to analyst estimates of $476.67 million. Genesco had a return on equity of 2.92% and a net margin of 0.54%.Genesco has set its FY 2027 guidance at 1.900-2.300 EPS. On average, research analysts predict that Genesco will post 0.94 earnings per share for the current fiscal year.

Institutional Trading of Genesco

A number of hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC boosted its position in Genesco by 361.6% during the 4th quarter. Corient Private Wealth LLC now owns 46,570 shares of the company’s stock worth $1,154,000 after buying an additional 36,481 shares during the period. Mackenzie Financial Corp grew its holdings in Genesco by 50.3% during the 4th quarter. Mackenzie Financial Corp now owns 76,133 shares of the company’s stock worth $1,927,000 after acquiring an additional 25,494 shares during the period. Empowered Funds LLC increased its holdings in Genesco by 1.9% in the fourth quarter. Empowered Funds LLC now owns 79,016 shares of the company’s stock worth $1,957,000 after purchasing an additional 1,449 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in Genesco in the fourth quarter worth approximately $671,000. Finally, Bridgeway Capital Management LLC lifted its stake in Genesco by 5.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 149,416 shares of the company’s stock valued at $3,701,000 after buying an additional 7,049 shares during the period. 94.51% of the stock is owned by institutional investors and hedge funds.

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.