Genesco (NYSE:GCO) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Genesco (NYSE:GCO) from a buy rating to a hold rating in a research note released on Saturday.

Several other analysts also recently issued reports on the company. Jefferies Financial Group restated a “hold” rating on shares of Genesco in a report on Friday, March 6th. Weiss Ratings upgraded Genesco from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, April 6th. Finally, Truist Financial cut their price objective on Genesco from $38.00 to $32.00 and set a “hold” rating on the stock in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $34.00.

Genesco Price Performance

Shares of Genesco stock opened at $32.94 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $30.65 and its two-hundred day moving average price is $29.69. Genesco has a 52 week low of $19.62 and a 52 week high of $38.95. The stock has a market cap of $357.73 million, a PE ratio of 29.15 and a beta of 1.82.

Genesco (NYSE:GCO) last issued its quarterly earnings results on Friday, March 6th. The company reported $3.74 EPS for the quarter, topping the consensus estimate of $3.73 by $0.01. Genesco had a net margin of 0.54% and a return on equity of 2.92%. The firm had revenue of $799.94 million for the quarter, compared to analysts’ expectations of $476.67 million. Genesco has set its FY 2027 guidance at 1.900-2.300 EPS. As a group, sell-side analysts anticipate that Genesco will post 2.15 EPS for the current fiscal year.

Institutional Trading of Genesco

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in shares of Genesco by 15.4% in the 1st quarter. Royal Bank of Canada now owns 52,848 shares of the company’s stock valued at $1,122,000 after purchasing an additional 7,042 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Genesco in the 1st quarter valued at about $26,000. Empowered Funds LLC increased its holdings in shares of Genesco by 5.3% in the 1st quarter. Empowered Funds LLC now owns 64,783 shares of the company’s stock valued at $1,375,000 after purchasing an additional 3,282 shares during the period. Cetera Investment Advisers acquired a new position in shares of Genesco in the 2nd quarter valued at about $208,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Genesco by 31.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 17,845 shares of the company’s stock valued at $351,000 after purchasing an additional 4,268 shares during the period. Institutional investors and hedge funds own 94.51% of the company’s stock.

Genesco Company Profile

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.