Genesco Inc. (NYSE:GCO) Receives $34.00 Consensus PT from Analysts

Genesco Inc. (NYSE:GCO) has been assigned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $34.00.

GCO has been the topic of a number of recent research reports. Zacks Research raised shares of Genesco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Genesco in a report on Wednesday, December 24th. Jefferies Financial Group restated a “hold” rating on shares of Genesco in a report on Friday, March 6th. UBS Group set a $38.00 price objective on shares of Genesco in a research report on Friday, December 5th. Finally, Williams Trading raised Genesco to a “strong-buy” rating in a research report on Monday, January 12th.

Genesco Price Performance

Genesco stock opened at $26.13 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.49 and a current ratio of 1.64. The firm has a market cap of $281.90 million, a P/E ratio of 23.12 and a beta of 1.86. The business’s fifty day moving average is $29.45 and its two-hundred day moving average is $29.45. Genesco has a 52 week low of $16.19 and a 52 week high of $38.95.

Genesco (NYSE:GCO) last announced its earnings results on Friday, March 6th. The company reported $3.74 earnings per share 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 analyst estimates of $476.67 million. Genesco has set its FY 2027 guidance at 1.900-2.300 EPS. Equities research analysts forecast that Genesco will post 0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genesco

Institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its position in Genesco by 371.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock worth $5,365,000 after acquiring an additional 214,639 shares in the last quarter. Shay Capital LLC acquired a new position in shares of Genesco during the 2nd quarter worth about $4,027,000. JPMorgan Chase & Co. increased its stake in shares of Genesco by 2,995.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 167,155 shares of the company’s stock worth $4,846,000 after purchasing an additional 161,755 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in Genesco in the 2nd quarter valued at about $2,954,000. Finally, Marshall Wace LLP grew its holdings in Genesco by 232.5% during the fourth quarter. Marshall Wace LLP now owns 174,218 shares of the company’s stock worth $4,315,000 after purchasing an additional 121,814 shares during the period. 94.51% of the stock is currently owned by institutional investors and hedge funds.

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.