Weiss Ratings Reiterates “Sell (D-)” Rating for Genesco (NYSE:GCO)

Genesco (NYSE:GCO)‘s stock had its “sell (d-)” rating reaffirmed by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other analysts also recently issued reports on GCO. Truist Financial raised their target price on Genesco from $25.00 to $31.00 and gave the stock a “hold” rating in a research report on Friday, August 29th. Seaport Res Ptn raised Genesco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Jefferies Financial Group raised their price target on Genesco from $24.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, August 29th. Finally, Zacks Research raised Genesco from a “hold” rating to a “strong-buy” rating in a report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Genesco presently has an average rating of “Moderate Buy” and an average target price of $30.00.

Genesco Stock Performance

NYSE:GCO opened at $28.47 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.56 and a quick ratio of 0.35. The business has a fifty day simple moving average of $29.56 and a two-hundred day simple moving average of $24.28. Genesco has a 1 year low of $16.19 and a 1 year high of $44.80. The company has a market capitalization of $307.33 million, a P/E ratio of -11.67 and a beta of 2.27.

Genesco (NYSE:GCO) last released its earnings results on Thursday, August 28th. The company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.11. Genesco had a positive return on equity of 1.75% and a negative net margin of 1.03%.The business had revenue of $545.97 million during the quarter, compared to the consensus estimate of $531.89 million. During the same period last year, the business posted ($0.83) earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. On average, analysts expect that Genesco will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On Genesco

Several large investors have recently added to or reduced their stakes in the business. CWM LLC boosted its stake in Genesco by 61.5% during the second quarter. CWM LLC now owns 1,365 shares of the company’s stock valued at $27,000 after buying an additional 520 shares during the period. Bank of New York Mellon Corp boosted its stake in Genesco by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 33,737 shares of the company’s stock valued at $716,000 after buying an additional 702 shares during the period. SummerHaven Investment Management LLC boosted its stake in Genesco by 2.4% during the second quarter. SummerHaven Investment Management LLC now owns 31,295 shares of the company’s stock valued at $616,000 after buying an additional 721 shares during the period. Acadian Asset Management LLC boosted its stake in Genesco by 0.3% during the second quarter. Acadian Asset Management LLC now owns 412,527 shares of the company’s stock valued at $8,119,000 after buying an additional 1,238 shares during the period. Finally, Jones Financial Companies Lllp bought a new stake in Genesco during the first quarter valued at $26,000. Institutional investors own 94.51% of the company’s stock.

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.