Genesco (NYSE:GCO) Raised to Buy at Wall Street Zen

Genesco (NYSE:GCO) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other research firms also recently commented on GCO. Williams Trading upgraded Genesco to a “strong-buy” rating in a research report on Monday, January 12th. Truist Financial dropped their price objective on Genesco from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, March 9th. UBS Group set a $38.00 price objective on Genesco in a report on Friday, December 5th. Weiss Ratings restated a “sell (d+)” rating on shares of Genesco in a research note on Monday, March 23rd. Finally, Zacks Research raised shares of Genesco from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $34.00.

Genesco Price Performance

Shares of Genesco stock opened at $27.94 on Friday. The firm has a market cap of $303.38 million, a P/E ratio of 24.72 and a beta of 1.86. The firm’s 50-day simple moving average is $28.45 and its 200-day simple moving average is $29.12. Genesco has a twelve month low of $16.19 and a twelve month high of $38.95. 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 (NYSE:GCO) last posted its quarterly earnings results on Friday, March 6th. The company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.01. The firm had revenue of $799.94 million during the quarter, compared to analyst estimates of $476.67 million. Genesco had a net margin of 0.54% and a return on equity of 2.92%. Genesco has set its FY 2027 guidance at 1.900-2.300 EPS. As a group, research analysts expect that Genesco will post 0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Genesco

Institutional investors have recently bought and sold shares of the business. ING Groep NV grew its holdings in shares of Genesco by 90.9% during the third quarter. ING Groep NV now owns 210,000 shares of the company’s stock worth $6,088,000 after purchasing an additional 100,000 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Genesco by 361.6% in the fourth quarter. Corient Private Wealth LLC now owns 46,570 shares of the company’s stock valued at $1,154,000 after buying an additional 36,481 shares during the last quarter. SG Americas Securities LLC lifted its position in Genesco by 1.2% during the 4th quarter. SG Americas Securities LLC now owns 40,198 shares of the company’s stock worth $996,000 after buying an additional 458 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Genesco by 2,995.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 167,155 shares of the company’s stock worth $4,846,000 after buying an additional 161,755 shares in the last quarter. Finally, Silver Oak Securities Incorporated grew its holdings in Genesco by 28.9% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,061 shares of the company’s stock worth $458,000 after acquiring an additional 4,044 shares during the last quarter. Institutional investors own 94.51% of the company’s stock.

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.