Genesco (NYSE:GCO) Shares Cross Above 200-Day Moving Average – What’s Next?

Genesco Inc. (NYSE:GCO)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $31.53 and traded as high as $33.97. Genesco shares last traded at $33.6250, with a volume of 150,459 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Truist Financial set a $40.00 price objective on Genesco in a research note on Friday, May 29th. Weiss Ratings cut Genesco from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Zacks Research upgraded Genesco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Seaport Research Partners downgraded shares of Genesco from a “buy” rating to a “neutral” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen lowered shares of Genesco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Two analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Genesco has a consensus rating of “Moderate Buy” and a consensus price target of $36.67.

Genesco Stock Performance

The company has a market capitalization of $373.57 million, a P/E ratio of 19.44 and a beta of 1.83. The business has a 50 day moving average of $35.62 and a 200 day moving average of $31.53. The company has a quick ratio of 0.37, a current ratio of 1.83 and a debt-to-equity ratio of 0.08.

Genesco (NYSE:GCO) last released its quarterly earnings data on Friday, May 29th. The company reported ($2.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.58) by $0.40. The business had revenue of $487.03 million for the quarter, compared to the consensus estimate of $474.32 million. Genesco had a return on equity of 2.66% and a net margin of 0.80%.Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. On average, sell-side analysts predict that Genesco Inc. will post 2.25 earnings per share for the current year.

Institutional Investors Weigh In On Genesco

Hedge funds have recently bought and sold shares of the business. Group One Trading LLC bought a new position in Genesco during the fourth quarter valued at $26,000. Jones Financial Companies Lllp purchased a new position in shares of Genesco in the 1st quarter worth $26,000. New York State Teachers Retirement System bought a new stake in shares of Genesco in the 1st quarter worth about $27,000. Optiver Holding B.V. increased its holdings in shares of Genesco by 550.6% in the 1st quarter. Optiver Holding B.V. now owns 1,106 shares of the company’s stock worth $32,000 after buying an additional 936 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Genesco during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 94.51% of the company’s stock.

About Genesco

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.