Genesco (NYSE:GCO) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Genesco Inc. (NYSE:GCO)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.07 and traded as high as $34.66. Genesco shares last traded at $33.7170, with a volume of 242,173 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Seaport Research Partners downgraded Genesco from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 27th. Truist Financial set a $40.00 price target on shares of Genesco in a research note on Friday, May 29th. Jefferies Financial Group reiterated a “hold” rating on shares of Genesco in a report on Friday, March 6th. Wall Street Zen cut shares of Genesco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Zacks Research upgraded shares of Genesco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.67.

Genesco Stock Down 2.3%

The firm has a market cap of $367.95 million, a P/E ratio of 19.14 and a beta of 1.83. The company has a current ratio of 1.83, a quick ratio of 0.37 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $35.88 and a 200-day moving average price of $31.20.

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

Institutional Investors Weigh In On Genesco

Several hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in Genesco by 15.4% during the first quarter. Royal Bank of Canada now owns 52,848 shares of the company’s stock valued at $1,122,000 after buying an additional 7,042 shares during the period. Jones Financial Companies Lllp purchased a new stake in Genesco during the first quarter worth $26,000. Empowered Funds LLC boosted its position in Genesco by 5.3% during the 1st quarter. Empowered Funds LLC now owns 64,783 shares of the company’s stock valued at $1,375,000 after acquiring an additional 3,282 shares in the last quarter. Cetera Investment Advisers bought a new stake in Genesco during the 2nd quarter valued at $208,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Genesco by 31.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 17,845 shares of the company’s stock valued at $351,000 after acquiring an additional 4,268 shares during the period. Hedge funds and other institutional investors 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.