Genesco Inc. (NYSE:GCO) Stock Has Average Target Price of $36.00

Genesco Inc. (NYSE:GCO) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $36.00.

GCO has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Genesco from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Zacks Research upgraded shares of Genesco from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. Truist Financial cut their price target on shares of Genesco from $40.00 to $38.00 and set a “hold” rating for the company in a report on Friday, September 4th. Finally, Wall Street Zen upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research report on Saturday.

Insider Transactions at Genesco

In other Genesco news, Director Gregory Sandfort bought 2,958 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was acquired at an average cost of $33.80 per share, with a total value of $99,980.40. Following the purchase, the director owned 29,172 shares in the company, valued at approximately $986,013.60. This represents a 11.28% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 23.11% of the company’s stock.

Institutional Trading of Genesco

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

Genesco Trading Up 2.2%

NYSE:GCO opened at $35.55 on Thursday. Genesco has a 12-month low of $21.92 and a 12-month high of $43.60. The company has a current ratio of 1.58, a quick ratio of 0.32 and a debt-to-equity ratio of 0.03. The stock’s 50 day simple moving average is $35.33 and its 200-day simple moving average is $34.55. The firm has a market cap of $384.68 million, a P/E ratio of 9.26 and a beta of 1.81.

Genesco (NYSE:GCO) last issued its quarterly earnings results on Thursday, September 3rd. The company reported ($0.83) earnings per share 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 firm had revenue of $529.86 million during the quarter, compared to the consensus estimate of $527.26 million. During the same period last year, the company earned ($1.79) earnings per share. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Equities analysts anticipate that Genesco will post 2.35 EPS for the current year.

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.