Genesco (NYSE:GCO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Genesco (NYSE:GCO) from a hold rating to a buy rating in a report published on Monday,Wall Street Zen reports.

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

Genesco Trading Down 1.4%

NYSE:GCO opened at $36.10 on Monday. The business’s 50-day moving average is $34.90 and its two-hundred day moving average is $35.34. The firm has a market capitalization of $390.66 million, a PE ratio of 24.10 and a beta of 1.81. Genesco has a 12 month low of $21.92 and a 12 month high of $43.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.58 and a quick ratio of 0.32.

Genesco (NYSE:GCO) last issued its earnings results 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 return on equity of 3.14% and a net margin of 1.71%. The company had revenue of $529.86 million during the quarter, compared to the consensus estimate of $527.26 million. During the same quarter in the prior year, the business earned ($1.79) earnings per share. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Research analysts predict that Genesco will post 2.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC purchased a new position in shares of Genesco during the 2nd quarter valued at approximately $25,000. New York State Teachers Retirement System bought a new stake in shares of Genesco in the first quarter worth $27,000. Optiver Holding B.V. increased its stake in shares of Genesco by 550.6% in the first quarter. Optiver Holding B.V. now owns 1,106 shares of the company’s stock worth $32,000 after buying an additional 936 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Genesco in the second quarter worth $32,000. Finally, Meeder Asset Management Inc. acquired a new stake in Genesco in the second quarter valued at $48,000. Institutional investors and hedge funds own 94.51% of the company’s stock.

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.