Genesco (NYSE:GCO) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Genesco (NYSE:GCO) from a hold rating to a strong-buy rating in a research report report published on Tuesday,Zacks.com reports.

GCO has been the topic of several other reports. Truist Financial set a $40.00 price objective on Genesco in a research report on Friday, May 29th. Wall Street Zen upgraded Genesco from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Jefferies Financial Group restated a “hold” rating on shares of Genesco in a research report on Friday, March 6th. Seaport Research Partners lowered Genesco from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings upgraded Genesco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.67.

Genesco Stock Down 0.8%

GCO opened at $39.09 on Tuesday. The business’s fifty day moving average is $33.38 and its two-hundred day moving average is $30.22. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.37 and a current ratio of 1.83. The company has a market cap of $433.93 million, a price-to-earnings ratio of 22.60 and a beta of 1.83. Genesco has a one year low of $19.62 and a one year high of $40.04.

Genesco (NYSE:GCO) last issued its quarterly earnings data on Friday, May 29th. The company reported ($2.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.58) by $0.40. Genesco had a return on equity of 2.66% and a net margin of 0.80%.The business had revenue of $487.03 million for the quarter, compared to the consensus estimate of $474.33 million. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Analysts anticipate that Genesco will post 2.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Genesco

Several institutional investors and hedge funds have recently added to or reduced their stakes in GCO. Royal Bank of Canada increased its stake in Genesco by 15.4% during the first quarter. Royal Bank of Canada now owns 52,848 shares of the company’s stock worth $1,122,000 after acquiring an additional 7,042 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in Genesco during the first quarter worth about $26,000. Empowered Funds LLC increased its stake in Genesco by 5.3% during the first quarter. Empowered Funds LLC now owns 64,783 shares of the company’s stock worth $1,375,000 after acquiring an additional 3,282 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Genesco during the second quarter worth about $208,000. Finally, Russell Investments Group Ltd. increased its stake in Genesco by 31.4% during the second quarter. Russell Investments Group Ltd. now owns 17,845 shares of the company’s stock worth $351,000 after acquiring an additional 4,268 shares during the last quarter. 94.51% of the stock is currently owned by institutional investors and hedge funds.

Genesco Company Profile

Genesco Inc is a Nashville, Tennessee-based retailer, wholesaler and licensee specializing in branded footwear, headwear, apparel and accessories. Through its portfolio of retail chains, wholesale distribution channels and licensing agreements, Genesco brings a range of product offerings to consumers in North America and Europe.

The company’s retail segment includes specialty chains such as Journeys, which targets fashion-focused teens and young adults in the United States and Canada, and Schuh, a footwear retailer with locations in the United Kingdom and Ireland.