Genesco (NYSE:GCO) Upgraded at Wall Street Zen

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

Several other analysts have also recently commented on GCO. Truist Financial reduced their target price on Genesco from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, September 4th. Weiss Ratings upgraded shares of Genesco from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Finally, Zacks Research upgraded Genesco from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Genesco presently has an average rating of “Moderate Buy” and an average price target of $36.00.

Genesco Stock Performance

Shares of Genesco stock opened at $35.55 on Friday. The stock has a market cap of $384.68 million, a price-to-earnings ratio of 9.26 and a beta of 1.81. Genesco has a twelve month low of $21.92 and a twelve month high of $43.60. The company’s fifty day moving average is $35.33 and its 200 day moving average is $34.55. The company has a quick ratio of 0.32, a current ratio of 1.58 and a debt-to-equity ratio of 0.03.

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

Insiders Place Their Bets

In related news, Director Gregory Sandfort purchased 2,958 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was acquired at an average price of $33.80 per share, for a total transaction of $99,980.40. Following the purchase, the director owned 29,172 shares of the company’s stock, valued at approximately $986,013.60. This trade represents a 11.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 23.11% of the company’s stock.

Institutional Trading of Genesco

Institutional investors and hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd purchased a new position in shares of Genesco during the second quarter valued at approximately $209,000. Engineers Gate Manager LP purchased a new stake in Genesco in the 2nd quarter valued at $512,000. Integrated Wealth Concepts LLC bought a new position in Genesco during the 2nd quarter valued at $25,000. Penn Capital Management Company LLC bought a new position in Genesco during the 2nd quarter valued at $531,000. Finally, Empowered Funds LLC purchased a new position in Genesco during the 2nd quarter worth $3,148,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

Genesco Company Profile

Genesco Inc is a Nashville, Tennessee-based specialty retailer and branded footwear company. Founded in 1924 as General Shoe Corporation, the company changed its name to Genesco in 1959. It operates retail stores and e-commerce websites offering footwear, apparel and accessories through a portfolio of lifestyle and fashion brands.

Genesco’s principal retail businesses include Journeys and Journeys Kidz, which focus on trend-oriented footwear and apparel for young consumers, and Schuh, a footwear retailer serving customers in the United Kingdom and Ireland.