Truist Financial Lowers Genesco (NYSE:GCO) Price Target to $27.00

Genesco (NYSE:GCO) had its price target reduced by Truist Financial from $31.00 to $27.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential upside of 13.09% from the stock’s current price.

Several other research firms have also commented on GCO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Genesco in a research note on Wednesday, October 8th. Seaport Res Ptn raised Genesco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Jefferies Financial Group set a $26.00 price objective on Genesco in a report on Thursday. Zacks Research downgraded Genesco from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Wall Street Zen lowered Genesco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Genesco has a consensus rating of “Hold” and an average target price of $30.33.

Genesco Stock Down 2.1%

GCO stock traded down $0.51 during trading on Friday, hitting $23.88. 133,863 shares of the company’s stock traded hands, compared to its average volume of 237,441. The company has a quick ratio of 0.35, a current ratio of 1.56 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $257.85 million, a P/E ratio of -9.78 and a beta of 1.75. The business has a fifty day simple moving average of $30.60 and a two-hundred day simple moving average of $27.28. Genesco has a 1 year low of $16.19 and a 1 year high of $44.80.

Genesco (NYSE:GCO) last released its quarterly earnings results on Thursday, December 4th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.08). The company had revenue of $616.22 million during the quarter, compared to the consensus estimate of $618.62 million. Genesco had a positive return on equity of 1.75% and a negative net margin of 1.03%.During the same period in the previous year, the firm posted $0.61 earnings per share. Genesco has set its FY 2026 guidance at 0.950-0.95 EPS. Sell-side analysts anticipate that Genesco will post 0.94 EPS for the current year.

Institutional Trading of Genesco

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new position in Genesco during the first quarter valued at approximately $26,000. CWM LLC grew its stake in shares of Genesco by 61.5% during the 2nd quarter. CWM LLC now owns 1,365 shares of the company’s stock worth $27,000 after purchasing an additional 520 shares during the period. Virtus Advisers LLC acquired a new stake in shares of Genesco during the 1st quarter worth approximately $56,000. BNP Paribas Financial Markets increased its holdings in shares of Genesco by 92.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,960 shares of the company’s stock valued at $57,000 after purchasing an additional 941 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of Genesco by 182.2% in the 3rd quarter. Quarry LP now owns 1,964 shares of the company’s stock valued at $57,000 after purchasing an additional 1,268 shares during the period. 94.51% of the stock is owned by institutional investors and hedge funds.

About Genesco

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories in the United States, Puerto Rico, Canada, the United Kingdom, and the Republic of Ireland. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Genesco Brands.