Genesco (NYSE:GCO) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Genesco (NYSE:GCO) from a buy rating to a hold rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. Zacks Research raised shares of Genesco from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. Weiss Ratings upgraded Genesco from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Finally, Truist Financial decreased their target price on Genesco from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Genesco has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Genesco Price Performance

NYSE GCO opened at $36.28 on Friday. Genesco has a 52 week low of $21.92 and a 52 week high of $43.60. The firm has a market capitalization of $392.55 million, a P/E ratio of 23.78 and a beta of 1.81. The company has a quick ratio of 0.32, a current ratio of 1.58 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $35.02 and a 200-day moving average price of $34.99.

Genesco (NYSE:GCO) last issued its quarterly earnings data on Thursday, September 3rd. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.54. Genesco had a net margin of 1.71% and a return on equity of 3.14%. The firm had revenue of $529.86 million for the quarter, compared to analysts’ expectations of $527.26 million. During the same quarter in the prior year, the business earned ($1.79) EPS. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Equities research analysts anticipate that Genesco will post 2.35 earnings per share for the current year.

Institutional Investors Weigh In On Genesco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd bought a new stake in Genesco during the 2nd quarter valued at approximately $209,000. Engineers Gate Manager LP bought a new position in Genesco in the 2nd quarter worth approximately $512,000. Integrated Wealth Concepts LLC bought a new position in Genesco in the 2nd quarter worth approximately $25,000. Penn Capital Management Company LLC bought a new position in Genesco in the 2nd quarter worth approximately $531,000. Finally, Empowered Funds LLC purchased a new stake in Genesco during the 2nd quarter valued at approximately $3,148,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

Genesco Company Profile

Genesco Inc is a Nashville, Tennessee-based specialty retailer and branded footwear company. Founded in 1924 as General Shoe Corporation, the company changed its name to Genesco in 1959. It operates retail stores and e-commerce websites offering footwear, apparel and accessories through a portfolio of lifestyle and fashion brands.

Genesco’s principal retail businesses include Journeys and Journeys Kidz, which focus on trend-oriented footwear and apparel for young consumers, and Schuh, a footwear retailer serving customers in the United Kingdom and Ireland.