Genesco (NYSE:GCO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Genesco (NYSE:GCO) from a hold rating to a buy rating in a research report released on Saturday morning.

GCO has been the subject of a number of other reports. Truist Financial reduced their price target on shares of Genesco from $38.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, March 9th. Zacks Research raised shares of Genesco from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Jefferies Financial Group reiterated a “hold” rating on shares of Genesco in a research note on Friday, March 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Genesco in a report on Monday, March 23rd. Finally, Williams Trading upgraded shares of Genesco to a “strong-buy” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $34.00.

Genesco Stock Performance

Shares of GCO stock opened at $27.92 on Friday. The business has a fifty day moving average of $28.25 and a 200 day moving average of $29.07. Genesco has a 1 year low of $16.19 and a 1 year high of $38.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.64 and a quick ratio of 0.49. The firm has a market capitalization of $303.16 million, a price-to-earnings ratio of 24.70 and a beta of 1.86.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, March 6th. The company reported $3.74 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.01. Genesco had a return on equity of 2.92% and a net margin of 0.54%.The business had revenue of $799.94 million for the quarter, compared to the consensus estimate of $476.67 million. Genesco has set its FY 2027 guidance at 1.900-2.300 EPS. As a group, research analysts expect that Genesco will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On Genesco

Hedge funds and other institutional investors have recently made changes to their positions in the company. ING Groep NV increased its holdings in shares of Genesco by 90.9% during the 3rd quarter. ING Groep NV now owns 210,000 shares of the company’s stock valued at $6,088,000 after purchasing an additional 100,000 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Genesco by 2,995.5% during the third quarter. JPMorgan Chase & Co. now owns 167,155 shares of the company’s stock worth $4,846,000 after buying an additional 161,755 shares in the last quarter. Silver Oak Securities Incorporated boosted its holdings in Genesco by 28.9% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,061 shares of the company’s stock worth $458,000 after buying an additional 4,044 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Genesco by 99.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 82,446 shares of the company’s stock valued at $2,042,000 after buying an additional 41,191 shares during the period. Finally, FourThought Financial Partners LLC purchased a new position in Genesco in the third quarter valued at $295,000. Institutional investors and hedge funds own 94.51% of the company’s stock.

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.