Genesco Inc. (NYSE:GCO) Given Average Rating of “Moderate Buy” by Analysts

Shares of Genesco Inc. (NYSE:GCO) have been given a consensus rating of “Moderate Buy” by the five research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $36.6667.

GCO has been the subject of several recent research reports. Weiss Ratings raised shares of Genesco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Seaport Research Partners downgraded shares of Genesco from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 27th. Truist Financial set a $40.00 price objective on shares of Genesco in a research report on Friday, May 29th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Genesco in a research report on Friday, March 6th. Finally, Zacks Research raised shares of Genesco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday.

Hedge Funds Weigh In On Genesco

A number of hedge funds have recently added to or reduced their stakes in GCO. Arrowstreet Capital Limited Partnership increased its stake in shares of Genesco by 371.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock valued at $5,365,000 after purchasing an additional 214,639 shares during the period. Shay Capital LLC acquired a new position in shares of Genesco during the second quarter worth approximately $4,027,000. JPMorgan Chase & Co. boosted its position in shares of Genesco by 2,995.5% during the third 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 during the period. MUFG Securities EMEA plc acquired a new position in shares of Genesco during the second quarter worth approximately $2,954,000. Finally, Marshall Wace LLP boosted its position in shares of Genesco by 232.5% during the fourth quarter. Marshall Wace LLP now owns 174,218 shares of the company’s stock worth $4,315,000 after buying an additional 121,814 shares during the period. Institutional investors and hedge funds own 94.51% of the company’s stock.

Genesco Trading Up 2.9%

NYSE GCO opened at $40.03 on Friday. Genesco has a one year low of $19.62 and a one year high of $40.38. The company’s 50 day moving average price is $33.66 and its 200 day moving average price is $30.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.37 and a current ratio of 1.83. The firm has a market capitalization of $444.38 million, a price-to-earnings ratio of 23.14 and a beta of 1.83.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, May 29th. The company reported ($2.18) EPS for the quarter, beating the consensus estimate of ($2.58) by $0.40. Genesco had a net margin of 0.80% and a return on equity of 2.66%. The firm had revenue of $487.03 million for the quarter, compared to analyst estimates of $474.33 million. 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.

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.