Genesco (NYSE:GCO) Rating Lowered to Hold at Zacks Research

Genesco (NYSE:GCO) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Genesco from a “hold” rating to a “buy” rating in a research report on Monday, October 19th. Weiss Ratings raised shares of Genesco from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Finally, Truist Financial lowered their price objective 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. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.00.

Genesco Trading Down 2.6%

NYSE GCO opened at $36.63 on Monday. The stock has a market cap of $396.39 million, a P/E ratio of 9.54 and a beta of 1.82. Genesco has a fifty-two week low of $21.92 and a fifty-two week high of $43.60. The stock has a 50 day simple moving average of $35.27 and a two-hundred day simple moving average of $33.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.32 and a current ratio of 1.58.

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

Institutional Investors Weigh In On Genesco

Hedge funds have recently bought and sold shares of the business. Pzena Investment Management LLC purchased a new stake in shares of Genesco in the second quarter worth $37,104,000. BlackRock Inc. purchased a new position in shares of Genesco in the 2nd quarter worth about $30,730,000. Fund 1 Investments LLC raised its position in shares of Genesco by 43.4% in the 2nd quarter. Fund 1 Investments LLC now owns 609,963 shares of the company’s stock worth $20,598,000 after purchasing an additional 184,653 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Genesco in the 2nd quarter worth about $3,190,000. Finally, Ancora Advisors LLC bought a new position in Genesco in the 2nd quarter worth about $3,187,000. Institutional investors own 94.51% of the company’s stock.

About Genesco

Genesco Inc (NYSE:GCO) is a Nashville, Tennessee-based specialty retailer and distributor of footwear, apparel and accessories. The company serves consumers through retail stores and e-commerce platforms, with a focus on branded footwear and lifestyle products.

Genesco operates several retail banners, including Journeys, which sells trend-focused footwear, apparel and accessories for young consumers; Schuh, a footwear retailer serving the United Kingdom, Ireland and other markets; Johnston & Murphy, a heritage brand offering footwear, apparel, leather goods and accessories; and Little Burgundy, a Canadian footwear retailer.