Seaport Research Partners Reiterates “Neutral” Rating for Genesco (NYSE:GCO)

Genesco (NYSE:GCO)‘s stock had its “neutral” rating restated by equities research analysts at Seaport Research Partners in a research note issued to investors on Wednesday, Marketbeat reports.

GCO has been the topic of several other research reports. Jefferies Financial Group reiterated a “hold” rating on shares of Genesco in a research note on Friday, March 6th. Weiss Ratings upgraded shares of Genesco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Truist Financial dropped their target price on shares of Genesco from $38.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, March 9th. Finally, Wall Street Zen downgraded shares of Genesco from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Genesco presently has a consensus rating of “Hold” and an average target price of $34.00.

Genesco Trading Up 0.6%

Shares of NYSE GCO opened at $37.23 on Wednesday. The firm’s 50 day moving average price is $31.92 and its 200-day moving average price is $29.95. The company has a market cap of $404.32 million, a PE ratio of 32.95 and a beta of 1.82. Genesco has a 52-week low of $19.62 and a 52-week high of $38.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.49 and a current ratio of 1.64.

Genesco (NYSE:GCO) last issued its earnings results on Friday, March 6th. The company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.01. The firm had revenue of $799.94 million for 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. On average, equities research analysts expect that Genesco will post 2.15 EPS for the current fiscal year.

Institutional Trading of Genesco

A number of institutional investors have recently made changes to their positions in GCO. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Genesco by 371.2% during the 2nd 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 during the last quarter. Shay Capital LLC purchased a new stake in shares of Genesco during the 2nd quarter valued at about $4,027,000. JPMorgan Chase & Co. boosted its holdings in shares of Genesco by 2,995.5% in 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 during the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Genesco in the second quarter worth approximately $2,954,000. Finally, Marshall Wace LLP boosted its holdings in shares of Genesco by 232.5% in the fourth quarter. Marshall Wace LLP now owns 174,218 shares of the company’s stock worth $4,315,000 after buying an additional 121,814 shares during 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.