Genesco Inc. (NYSE:GCO) Receives $36.67 Average Target Price from Analysts

Genesco Inc. (NYSE:GCO) has been assigned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $36.6667.

Several analysts recently weighed in on the company. Seaport Research Partners lowered Genesco from a “buy” rating to a “neutral” rating in a report on Wednesday, May 27th. Weiss Ratings cut shares of Genesco from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Wall Street Zen downgraded shares of Genesco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Zacks Research upgraded Genesco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. Finally, Truist Financial set a $40.00 target price on Genesco in a research note on Friday, May 29th.

Insiders Place Their Bets

In related news, Director Gregory A. Sandfort acquired 2,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was bought at an average price of $33.80 per share, for a total transaction of $99,980.40. Following the acquisition, the director directly owned 29,172 shares of the company’s stock, valued at $986,013.60. This represents a 11.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Genesco

A number of institutional investors have recently modified their holdings of GCO. Group One Trading LLC purchased a new stake in shares of Genesco in the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp purchased a new position in Genesco during the 1st quarter worth $26,000. New York State Teachers Retirement System bought a new stake in Genesco during the 1st quarter valued at $27,000. Optiver Holding B.V. raised its position in Genesco by 550.6% during the 1st quarter. Optiver Holding B.V. now owns 1,106 shares of the company’s stock valued at $32,000 after purchasing an additional 936 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Genesco in the 4th quarter worth $37,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

Genesco Stock Up 0.8%

Shares of NYSE:GCO opened at $37.27 on Friday. The company has a market cap of $414.07 million, a price-to-earnings ratio of 21.54 and a beta of 1.83. Genesco has a 12 month low of $21.92 and a 12 month high of $43.60. 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 company has a 50-day moving average price of $35.80 and a 200 day moving average price of $32.12.

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

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.