Zacks Research Upgrades Genesco (NYSE:GCO) to “Strong-Buy”

Genesco (NYSE:GCO) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

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

Genesco Trading Down 0.8%

Shares of Genesco stock opened at $39.09 on Tuesday. Genesco has a 1 year low of $19.62 and a 1 year high of $40.04. 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 capitalization of $433.93 million, a P/E ratio of 22.60 and a beta of 1.83. The company’s fifty day moving average is $33.38 and its two-hundred day moving average is $30.22.

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, topping the consensus estimate of ($2.58) by $0.40. Genesco had a net margin of 0.80% and a return on equity of 2.66%. The company 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 forecast that Genesco will post 2.25 earnings per share for the current year.

Institutional Trading of Genesco

Several hedge funds have recently made changes to their positions in the company. Fund 1 Investments LLC lifted its stake in shares of Genesco by 3.5% in the 4th quarter. Fund 1 Investments LLC now owns 986,241 shares of the company’s stock worth $24,429,000 after acquiring an additional 33,044 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Genesco by 23.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 409,227 shares of the company’s stock valued at $10,137,000 after purchasing an additional 76,494 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Genesco by 50.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 300,000 shares of the company’s stock valued at $7,431,000 after purchasing an additional 100,000 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Genesco by 6.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 290,639 shares of the company’s stock valued at $8,426,000 after purchasing an additional 18,184 shares during the period. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Genesco by 29.7% in the second quarter. Bridgeway Capital Management LLC now owns 238,252 shares of the company’s stock valued at $4,691,000 after purchasing an additional 54,498 shares during the period. 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.