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

Genesco Inc. (NYSE:GCO) has earned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have issued a strong buy rating on 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.

GCO has been the topic of several analyst reports. Weiss Ratings upgraded shares of Genesco from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Zacks Research upgraded Genesco from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. Wall Street Zen raised shares of Genesco from a “hold” rating to a “buy” rating in a report on Monday, October 19th. Finally, Truist Financial reduced their price objective on shares of Genesco from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, September 4th.

Genesco Stock Down 0.5%

GCO stock opened at $37.57 on Monday. Genesco has a twelve month low of $21.92 and a twelve month high of $43.60. The company has a quick ratio of 0.32, a current ratio of 1.58 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $406.51 million, a PE ratio of 24.84 and a beta of 1.81. The stock has a 50-day simple moving average of $35.20 and a two-hundred day simple moving average of $33.61.

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

Institutional Investors Weigh In On Genesco

A number of hedge funds have recently modified their holdings of GCO. Pzena Investment Management LLC acquired a new position in shares of Genesco during the second quarter worth about $37,104,000. BlackRock Inc. bought a new position in Genesco in the second quarter valued at approximately $30,730,000. Fund 1 Investments LLC increased its position in shares of Genesco by 43.4% during 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. acquired a new position in shares of Genesco during the 2nd quarter worth approximately $3,190,000. Finally, Ancora Advisors LLC bought a new stake in shares of Genesco during the 2nd quarter worth approximately $3,187,000. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Genesco Company Profile

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.