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

Genesco Inc. (NYSE:GCO) has earned a consensus rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $34.00.

Several research firms recently issued reports on GCO. Weiss Ratings upgraded Genesco from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 6th. Williams Trading raised Genesco to a “strong-buy” rating in a report on Monday, January 12th. Zacks Research raised shares of Genesco from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Truist Financial reduced their price objective on shares of Genesco from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, March 9th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Genesco in a report on Friday, March 6th.

Institutional Trading of Genesco

Hedge funds have recently bought and sold shares of the stock. ING Groep NV boosted its position in shares of Genesco by 90.9% during the 3rd quarter. ING Groep NV now owns 210,000 shares of the company’s stock valued at $6,088,000 after acquiring an additional 100,000 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Genesco by 99.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 82,446 shares of the company’s stock worth $2,042,000 after purchasing an additional 41,191 shares during the last quarter. JPMorgan Chase & Co. increased its position in Genesco by 2,995.5% in the third quarter. JPMorgan Chase & Co. now owns 167,155 shares of the company’s stock worth $4,846,000 after purchasing an additional 161,755 shares during the last quarter. UBS Group AG raised its stake in Genesco by 38.3% during the fourth quarter. UBS Group AG now owns 174,947 shares of the company’s stock valued at $4,333,000 after purchasing an additional 48,436 shares in the last quarter. Finally, Silver Oak Securities Incorporated lifted its position in Genesco by 28.9% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,061 shares of the company’s stock valued at $458,000 after purchasing an additional 4,044 shares during the last quarter. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Genesco Stock Up 3.3%

GCO opened at $34.85 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.49 and a current ratio of 1.64. Genesco has a fifty-two week low of $19.62 and a fifty-two week high of $38.95. The firm’s fifty day moving average is $29.93 and its 200 day moving average is $29.57. The stock has a market cap of $378.51 million, a price-to-earnings ratio of 30.84 and a beta of 1.82.

Genesco (NYSE:GCO) last issued its quarterly earnings results on Friday, March 6th. The company reported $3.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.73 by $0.01. The business had revenue of $799.94 million during 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, sell-side analysts forecast that Genesco will post 2.15 earnings per share for the current fiscal 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.