Genesco (NYSE:GCO) Stock Rating Lowered by Zacks Research

Genesco (NYSE:GCO) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

A number of other analysts have also commented on GCO. Truist Financial reduced their price target on shares of Genesco from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, September 4th. Wall Street Zen upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research report on Monday, October 19th. Finally, Weiss Ratings upgraded shares of Genesco from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Genesco presently has an average rating of “Hold” and an average target price of $36.00.

Genesco Trading Down 2.6%

Genesco stock opened at $36.63 on Monday. 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 has a one year low of $21.92 and a one year high of $43.60. The stock has a market capitalization of $396.39 million, a PE ratio of 24.75 and a beta of 1.82. The business’s fifty day moving average is $35.27 and its 200 day moving average is $33.63.

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

Institutional Inflows and Outflows

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

Genesco Company Profile

Genesco Inc (NYSE:GCO) is a Nashville, Tennessee-based specialty retailer and distributor of footwear, apparel and accessories. The company serves consumers through retail stores and e-commerce platforms, with a focus on branded footwear and lifestyle products.

Genesco operates several retail banners, including Journeys, which sells trend-focused footwear, apparel and accessories for young consumers; Schuh, a footwear retailer serving the United Kingdom, Ireland and other markets; Johnston & Murphy, a heritage brand offering footwear, apparel, leather goods and accessories; and Little Burgundy, a Canadian footwear retailer.