Genesco (NYSE:GCO) Stock Dropped to Hold by Wall Street Zen

Wall Street Zen downgraded shares of Genesco (NYSE:GCO) from a buy rating to a hold rating in a research report report published on Sunday,Wall Street Zen reports.

GCO has been the subject of several other research reports. Weiss Ratings raised Genesco from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Truist Financial reduced their target price on Genesco from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, September 4th. Finally, Zacks Research raised Genesco from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Genesco Stock Down 0.1%

Shares of NYSE GCO opened at $36.46 on Friday. The company has a 50 day simple moving average of $35.14 and a 200-day simple moving average of $34.86. The company has a market capitalization of $394.50 million, a P/E ratio of 9.49 and a beta of 1.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.58 and a quick ratio of 0.32. Genesco has a 1 year low of $21.92 and a 1 year high of $43.60.

Genesco (NYSE:GCO) last released its quarterly earnings results on Thursday, September 3rd. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.54. Genesco had a net margin of 1.71% and a return on equity of 3.14%. The firm had revenue of $529.86 million for the quarter, compared to analyst estimates of $527.26 million. During the same quarter in the previous year, the company earned ($1.79) EPS. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. On average, equities research analysts predict that Genesco will post 2.35 earnings per share for the current year.

Institutional Investors Weigh In On Genesco

Institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC purchased a new stake in Genesco in the second quarter valued at approximately $37,104,000. BlackRock Inc. acquired a new position in Genesco during the second quarter worth $30,730,000. Fund 1 Investments LLC boosted its position in shares of Genesco by 43.4% during the second quarter. Fund 1 Investments LLC now owns 609,963 shares of the company’s stock worth $20,598,000 after buying an additional 184,653 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Genesco during the second quarter worth $3,190,000. Finally, Ancora Advisors LLC purchased a new position in shares of Genesco during the second quarter worth $3,187,000. 94.51% of the stock is currently owned by institutional investors and hedge funds.

Genesco Company Profile

Genesco Inc is a Nashville, Tennessee-based specialty retailer and branded footwear company. Founded in 1924 as General Shoe Corporation, the company changed its name to Genesco in 1959. It operates retail stores and e-commerce websites offering footwear, apparel and accessories through a portfolio of lifestyle and fashion brands.

Genesco’s principal retail businesses include Journeys and Journeys Kidz, which focus on trend-oriented footwear and apparel for young consumers, and Schuh, a footwear retailer serving customers in the United Kingdom and Ireland.