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

Zacks Research downgraded shares of Genesco (NYSE:GCO) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks reports.

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

Genesco Stock Performance

Shares of GCO stock opened at $36.63 on Monday. The company has a market capitalization of $396.39 million, a price-to-earnings ratio of 9.54 and a beta of 1.82. 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 has a one year low of $21.92 and a one year high of $43.60. The company’s 50-day moving average is $35.27 and its 200 day moving average is $33.63.

Genesco (NYSE:GCO) last issued its earnings results on Thursday, September 3rd. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the company earned ($1.79) earnings per share. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Sell-side analysts expect that Genesco will post 2.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Signaturefd LLC boosted its stake in shares of Genesco by 124.2% in the 3rd quarter. Signaturefd LLC now owns 1,455 shares of the company’s stock worth $50,000 after buying an additional 806 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of Genesco by 3,987.2% in the third quarter. Sterling Capital Management LLC now owns 7,970 shares of the company’s stock worth $272,000 after acquiring an additional 7,775 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Genesco in the second quarter worth $209,000. Engineers Gate Manager LP purchased a new stake in Genesco during the second quarter valued at $512,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Genesco during the second quarter valued at $25,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

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.