Genesco (NYSE:GCO) Price Target Lowered to $32.00 at Truist Financial

Genesco (NYSE:GCO) had its price objective reduced by stock analysts at Truist Financial from $38.00 to $32.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price target would suggest a potential upside of 20.03% from the stock’s current price.

Several other equities research analysts also recently issued reports on GCO. Williams Trading raised Genesco to a “strong-buy” rating in a report on Monday, January 12th. Zacks Research upgraded shares of Genesco from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Jefferies Financial Group reissued a “hold” rating on shares of Genesco in a research report on Friday. UBS Group set a $38.00 target price on shares of Genesco in a research note on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Genesco in a report on Wednesday, December 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Genesco has a consensus rating of “Hold” and a consensus target price of $34.00.

Genesco Price Performance

Shares of NYSE GCO opened at $26.66 on Monday. 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 business’s 50 day moving average price is $29.39 and its two-hundred day moving average price is $29.67. The company has a market cap of $287.66 million, a PE ratio of 23.59 and a beta of 1.86. Genesco has a twelve month low of $16.19 and a twelve month high of $38.95.

Genesco (NYSE:GCO) last released its quarterly earnings data on Friday, March 6th. The company reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.01. Genesco had a return on equity of 2.92% and a net margin of 0.54%.The company had revenue of $799.94 million during the quarter, compared to analysts’ expectations of $476.67 million. Genesco has set its FY 2027 guidance at 1.900-2.300 EPS. On average, analysts predict that Genesco will post 0.94 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in shares of Genesco by 1.2% during the fourth quarter. SG Americas Securities LLC now owns 40,198 shares of the company’s stock worth $996,000 after buying an additional 458 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Genesco by 92.3% in the third quarter. BNP Paribas Financial Markets now owns 1,960 shares of the company’s stock valued at $57,000 after acquiring an additional 941 shares in the last quarter. Group One Trading LLC bought a new position in Genesco during the fourth quarter worth about $26,000. Russell Investments Group Ltd. increased its position in Genesco by 6.3% during the third quarter. Russell Investments Group Ltd. now owns 18,966 shares of the company’s stock worth $550,000 after acquiring an additional 1,121 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Genesco by 0.3% in the 2nd quarter. Acadian Asset Management LLC now owns 412,527 shares of the company’s stock worth $8,119,000 after purchasing an additional 1,238 shares in the last quarter. 94.51% of the stock is 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.