Genesco (NYSE:GCO) Stock Passes Above 200-Day Moving Average – Here’s Why

Genesco Inc. (NYSE:GCO) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.48 and traded as high as $37.49. Genesco shares last traded at $37.40, with a volume of 179,525 shares trading hands.

Analyst Ratings Changes

A number of brokerages have weighed in on GCO. Truist Financial set a $40.00 price objective on Genesco in a report on Friday, May 29th. Seaport Research Partners lowered shares of 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 report on Friday, June 12th. Zacks Research raised shares of Genesco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen lowered shares of Genesco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.67.

Genesco Stock Performance

The stock has a 50-day moving average of $36.19 and a 200 day moving average of $32.48. The stock has a market cap of $415.51 million, a PE ratio of 21.62 and a beta of 1.83. The company has a quick ratio of 0.37, a current ratio of 1.83 and a debt-to-equity ratio of 0.08.

Genesco (NYSE:GCO) last issued its earnings results on Friday, May 29th. The company reported ($2.18) earnings per share (EPS) 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 company had revenue of $487.03 million during the quarter, compared to analysts’ expectations of $474.32 million. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Equities analysts predict that Genesco Inc. will post 2.25 EPS for the current fiscal year.

Insider Buying and Selling at Genesco

In other news, Director Gregory A. Sandfort acquired 2,958 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was purchased at an average price of $33.80 per share, with a total value of $99,980.40. Following the completion of the acquisition, the director owned 29,172 shares of the company’s stock, valued at $986,013.60. This trade represents a 11.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 23.11% of the company’s stock.

Hedge Funds Weigh In On Genesco

A number of institutional investors have recently bought and sold shares of the company. Fund 1 Investments LLC increased its holdings in shares of Genesco by 3.5% during the 4th quarter. Fund 1 Investments LLC now owns 986,241 shares of the company’s stock worth $24,429,000 after buying an additional 33,044 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Genesco by 23.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 409,227 shares of the company’s stock valued at $10,137,000 after buying an additional 76,494 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Genesco by 50.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 300,000 shares of the company’s stock valued at $7,431,000 after acquiring an additional 100,000 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Genesco by 6.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 290,639 shares of the company’s stock valued at $8,426,000 after acquiring an additional 18,184 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its position in Genesco by 29.7% in the second quarter. Bridgeway Capital Management LLC now owns 238,252 shares of the company’s stock worth $4,691,000 after acquiring an additional 54,498 shares during the period. 94.51% of the stock is owned by hedge funds and other institutional investors.

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.