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

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

Several research firms recently issued reports on GCO. Wall Street Zen upgraded Genesco from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Weiss Ratings upgraded Genesco from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Zacks Research raised shares of Genesco from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. 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 research note on Friday, September 4th.

Institutional Investors Weigh In On Genesco

Hedge funds have recently added to or reduced their stakes in the business. Silver Oak Securities Incorporated increased its holdings in shares of Genesco by 3.5% in the 1st quarter. Silver Oak Securities Incorporated now owns 18,688 shares of the company’s stock valued at $542,000 after acquiring an additional 627 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Genesco during the 2nd quarter worth $25,000. New York State Teachers Retirement System acquired a new stake in Genesco during the 1st quarter worth $27,000. Optiver Holding B.V. boosted its stake in 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 purchasing an additional 936 shares during the period. Finally, Legal & General Group Plc purchased a new position in Genesco during the 2nd quarter worth $32,000. 94.51% of the stock is currently owned by institutional investors and hedge funds.

Genesco Stock Performance

Shares of GCO stock opened at $36.43 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.32 and a current ratio of 1.58. The firm has a market cap of $394.13 million, a P/E ratio of 9.49 and a beta of 1.81. The firm’s 50 day moving average price is $35.22 and its 200-day moving average price is $34.70. Genesco has a one year low of $21.92 and a one year high of $43.60.

Genesco (NYSE:GCO) last posted its 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. Genesco had a net margin of 1.71% and a return on equity of 3.14%. The firm had revenue of $529.86 million during the quarter, compared to the consensus estimate of $527.26 million. During the same quarter last year, the firm earned ($1.79) EPS. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. As a group, equities research analysts predict that Genesco will post 2.35 EPS for the current year.

About Genesco

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.