Genesco (NYSE:GCO) Given New $32.00 Price Target at Truist Financial

Genesco (NYSE:GCO) had its price target decreased by Truist Financial from $38.00 to $32.00 in a research report released on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

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

Genesco Trading Down 2.1%

Shares of GCO stock opened at $25.95 on Monday. The firm has a fifty day moving average of $29.41 and a 200-day moving average of $29.66. The stock has a market cap of $279.99 million, a price-to-earnings ratio of 22.96 and a beta of 1.86. Genesco has a 52-week low of $16.19 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 posted its earnings results on Friday, March 6th. The company reported $3.74 EPS for the quarter, topping the consensus estimate of $3.73 by $0.01. Genesco had a return on equity of 2.92% and a net margin of 0.54%.The business had revenue of $799.94 million during the quarter, compared to the consensus estimate of $476.67 million. Genesco has set its FY 2027 guidance at 1.900-2.300 EPS. On average, equities research analysts forecast that Genesco will post 0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genesco

Large investors have recently added to or reduced their stakes in the company. Group One Trading LLC bought a new position in Genesco in the fourth quarter valued at $26,000. Jones Financial Companies Lllp acquired a new position in shares of Genesco during the 1st quarter worth about $26,000. Meeder Asset Management Inc. acquired a new position in shares of Genesco during the 4th quarter worth about $37,000. BNP Paribas Financial Markets grew its holdings in shares of Genesco by 92.3% in the 3rd 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. Finally, Quarry LP grew its holdings in shares of Genesco by 182.2% in the 3rd quarter. Quarry LP now owns 1,964 shares of the company’s stock valued at $57,000 after acquiring an additional 1,268 shares in the last quarter. 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.