Genesco (NYSE:GCO) Stock Rating Upgraded by Wall Street Zen

Genesco (NYSE:GCO) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Wall Street Zen reports.

Other equities research analysts have also issued research reports about the company. Truist Financial dropped their target price on Genesco from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, September 4th. Weiss Ratings upgraded shares of Genesco from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Finally, Zacks Research raised shares of Genesco from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. Two research analysts have rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.00.

Genesco Stock Performance

Shares of GCO stock opened at $36.84 on Monday. The business has a fifty day moving average of $34.88 and a 200 day moving average of $35.28. Genesco has a 1 year low of $21.92 and a 1 year high of $43.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.58 and a quick ratio of 0.32. The firm has a market capitalization of $398.61 million, a price-to-earnings ratio of 23.99 and a beta of 1.81.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Thursday, September 3rd. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.54. The business had revenue of $529.86 million for the quarter, compared to the consensus estimate of $527.26 million. Genesco had a return on equity of 3.14% and a net margin of 1.71%. During the same quarter in the previous year, the business earned ($1.79) EPS. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. As a group, research analysts expect that Genesco will post 2.35 earnings per share for the current year.

Institutional Trading of Genesco

A number of institutional investors have recently made changes to their positions in the company. Silver Oak Securities Incorporated grew its holdings in shares of Genesco by 3.5% in the first quarter. Silver Oak Securities Incorporated now owns 18,688 shares of the company’s stock valued at $542,000 after purchasing an additional 627 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Genesco during the 2nd quarter worth approximately $25,000. New York State Teachers Retirement System acquired a new stake in shares of Genesco during the 1st quarter worth approximately $27,000. Optiver Holding B.V. increased its holdings in shares of Genesco by 550.6% during the 1st quarter. Optiver Holding B.V. now owns 1,106 shares of the company’s stock worth $32,000 after buying an additional 936 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Genesco during the 2nd quarter valued at approximately $32,000. 94.51% of the stock is owned by institutional investors and hedge funds.

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.