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

Genesco Inc. (NYSE:GCO) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.85 and traded as high as $30.22. Genesco shares last traded at $30.19, with a volume of 117,132 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Genesco in a research report on Wednesday, October 8th. Wall Street Zen raised Genesco from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Seaport Res Ptn raised Genesco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Jefferies Financial Group increased their price objective on Genesco from $24.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, August 29th. Finally, Truist Financial increased their price objective on Genesco from $25.00 to $31.00 and gave the stock a “hold” rating in a report on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Genesco Price Performance

The firm has a market capitalization of $326.00 million, a P/E ratio of -12.37 and a beta of 2.27. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.35 and a current ratio of 1.56. The business has a 50 day simple moving average of $30.39 and a two-hundred day simple moving average of $24.85.

Genesco (NYSE:GCO) last announced its earnings results on Thursday, August 28th. The company reported ($1.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.11. The business had revenue of $545.97 million for the quarter, compared to analyst estimates of $531.89 million. Genesco had a positive return on equity of 1.75% and a negative net margin of 1.03%.The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.83) EPS. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. On average, sell-side analysts expect that Genesco Inc. will post 0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Genesco

A number of institutional investors have recently added to or reduced their stakes in GCO. Nomura Holdings Inc. bought a new position in Genesco in the 1st quarter worth about $16,163,000. Pzena Investment Management LLC boosted its stake in Genesco by 44.4% in the second quarter. Pzena Investment Management LLC now owns 1,433,190 shares of the company’s stock worth $28,220,000 after buying an additional 440,837 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Genesco by 371.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock worth $5,365,000 after buying an additional 214,639 shares in the last quarter. Shay Capital LLC bought a new position in Genesco during the 2nd quarter worth approximately $4,027,000. Finally, Vanguard Group Inc. grew its position in Genesco by 23.9% during the 1st quarter. Vanguard Group Inc. now owns 899,123 shares of the company’s stock worth $19,088,000 after acquiring an additional 173,255 shares during the last quarter. 94.51% of the stock is currently owned by institutional investors.

Genesco Company Profile

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories in the United States, Puerto Rico, Canada, the United Kingdom, and the Republic of Ireland. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Genesco Brands.