Wall Street Zen Downgrades Genesco (NYSE:GCO) to Hold

Genesco (NYSE:GCO) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

GCO has been the topic of a number of other research reports. Truist Financial cut their price target on shares of Genesco from $38.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, March 9th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Genesco in a research note on Friday, March 6th. Finally, Weiss Ratings raised shares of Genesco from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Genesco presently has a consensus rating of “Hold” and a consensus target price of $34.00.

Genesco Stock Down 0.4%

Shares of NYSE GCO opened at $32.94 on Friday. The stock has a market cap of $357.73 million, a P/E ratio of 29.15 and a beta of 1.82. The firm has a 50 day moving average price of $30.65 and a 200 day moving average price of $29.68. 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 has a 52-week low of $19.62 and a 52-week high of $38.95.

Genesco (NYSE:GCO) last issued its quarterly earnings data on Friday, March 6th. The company reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.01. The firm had revenue of $799.94 million during the quarter, compared to analysts’ expectations of $476.67 million. Genesco had a net margin of 0.54% and a return on equity of 2.92%. Genesco has set its FY 2027 guidance at 1.900-2.300 EPS. Analysts expect that Genesco will post 2.15 EPS for the current year.

Institutional Trading of Genesco

A number of institutional investors have recently made changes to their positions in GCO. Group One Trading LLC bought a new stake in shares of Genesco in the fourth quarter worth $26,000. Jones Financial Companies Lllp bought a new stake in shares of Genesco in the first quarter worth $26,000. New York State Teachers Retirement System bought a new stake in shares of Genesco in the first quarter worth $27,000. Meeder Asset Management Inc. bought a new stake in shares of Genesco in the fourth quarter worth $37,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Genesco by 92.3% in the third quarter. BNP Paribas Financial Markets now owns 1,960 shares of the company’s stock worth $57,000 after purchasing an additional 941 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.