Analysts Set Genesco Inc. (NYSE:GCO) Target Price at $34.00

Shares of Genesco Inc. (NYSE:GCO) have been given a consensus rating of “Hold” by the five analysts that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $34.00.

Several equities analysts have recently weighed in on GCO shares. Truist Financial reduced their target price on shares of Genesco from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, March 9th. Jefferies Financial Group reiterated a “hold” rating on shares of Genesco in a research note on Friday, March 6th. Zacks Research upgraded shares of Genesco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. Wall Street Zen upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings upgraded shares of Genesco from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, April 6th.

Genesco Price Performance

GCO opened at $34.85 on Monday. The company has a market capitalization of $378.51 million, a price-to-earnings ratio of 30.84 and a beta of 1.82. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $29.93 and a 200-day moving average price of $29.57. Genesco has a twelve month low of $19.62 and a twelve month high of $38.95.

Genesco (NYSE:GCO) last posted its earnings results on Friday, March 6th. The company reported $3.74 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.01. The firm had revenue of $799.94 million during the quarter, compared to the consensus estimate of $476.67 million. Genesco had a net margin of 0.54% and a return on equity of 2.92%. Genesco has set its FY 2027 guidance at 1.900-2.300 EPS. Equities analysts expect that Genesco will post 2.15 EPS for the current year.

Hedge Funds Weigh In On Genesco

Several hedge funds have recently bought and sold shares of GCO. Arrowstreet Capital Limited Partnership grew its stake in Genesco by 371.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock valued at $5,365,000 after acquiring an additional 214,639 shares in the last quarter. Shay Capital LLC purchased a new position in Genesco during the second quarter valued at approximately $4,027,000. JPMorgan Chase & Co. grew its stake in Genesco by 2,995.5% during the third quarter. JPMorgan Chase & Co. now owns 167,155 shares of the company’s stock valued at $4,846,000 after acquiring an additional 161,755 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in Genesco during the second quarter valued at approximately $2,954,000. Finally, Marshall Wace LLP grew its stake in Genesco by 232.5% during the fourth quarter. Marshall Wace LLP now owns 174,218 shares of the company’s stock valued at $4,315,000 after acquiring an additional 121,814 shares in the last quarter. 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.