Genesco Inc. (NYSE:GCO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Genesco Inc. (NYSE:GCO) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $36.6667.

A number of research analysts have recently issued reports on the company. Seaport Research Partners downgraded Genesco from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 27th. Truist Financial set a $40.00 target price on Genesco in a research note on Friday, May 29th. Zacks Research upgraded Genesco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. Wall Street Zen lowered Genesco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings lowered Genesco from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, June 12th.

Insider Buying and Selling at Genesco

In related news, Director Gregory A. Sandfort acquired 2,958 shares of the stock in a transaction dated Thursday, July 9th. The stock was bought at an average price of $33.80 per share, for a total transaction of $99,980.40. Following the purchase, the director directly owned 29,172 shares of the company’s stock, valued at $986,013.60. The trade was a 11.28% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genesco

A number of large investors have recently bought and sold shares of GCO. Royal Bank of Canada increased its stake in Genesco by 15.4% in the first 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 in the last quarter. Jones Financial Companies Lllp bought a new position in shares of Genesco during the 1st quarter worth about $26,000. Empowered Funds LLC boosted its position in shares of Genesco by 5.3% during the 1st quarter. Empowered Funds LLC now owns 64,783 shares of the company’s stock worth $1,375,000 after purchasing an additional 3,282 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Genesco during the 2nd quarter worth about $208,000. Finally, Russell Investments Group Ltd. grew its stake 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 buying an additional 4,268 shares during the period. 94.51% of the stock is currently owned by institutional investors and hedge funds.

Genesco Trading Up 2.0%

GCO opened at $35.61 on Friday. Genesco has a twelve month low of $21.92 and a twelve month high of $43.60. The company has a fifty day moving average of $36.08 and a 200-day moving average of $32.37. The stock has a market cap of $395.62 million, a PE ratio of 20.58 and a beta of 1.83. The company has a quick ratio of 0.37, a current ratio of 1.83 and a debt-to-equity ratio of 0.08.

Genesco (NYSE:GCO) last released its earnings results on Friday, May 29th. The company reported ($2.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.58) by $0.40. The business had revenue of $487.03 million for the quarter, compared to analyst estimates of $474.32 million. Genesco had a net margin of 0.80% and a return on equity of 2.66%. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. On average, sell-side analysts predict that Genesco will post 2.25 EPS for the current year.

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.