Zacks Research Upgrades Genesco (NYSE:GCO) to “Strong-Buy”

Genesco (NYSE:GCO) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

GCO has been the subject of several other research reports. Jefferies Financial Group reiterated a “hold” rating on shares of Genesco in a research note on Friday, March 6th. Truist Financial set a $40.00 target price on shares of Genesco in a research report on Friday, May 29th. Wall Street Zen upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Seaport Research Partners cut shares of Genesco from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings upgraded shares of Genesco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Genesco Stock Down 0.8%

Shares of NYSE GCO opened at $39.09 on Tuesday. 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 has a 52 week low of $19.62 and a 52 week high of $40.04. The firm has a 50-day moving average price of $33.38 and a 200 day moving average price of $30.22. The stock has a market capitalization of $433.93 million, a price-to-earnings ratio of 22.60 and a beta of 1.83.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Friday, May 29th. The company reported ($2.18) EPS for the quarter, beating the consensus estimate of ($2.58) by $0.40. Genesco had a net margin of 0.80% and a return on equity of 2.66%. The firm had revenue of $487.03 million during the quarter, compared to analysts’ expectations of $474.33 million. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Equities research analysts anticipate that Genesco will post 2.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Genesco

A number of hedge funds and other institutional investors have recently modified their holdings of GCO. Royal Bank of Canada grew its holdings in shares of Genesco by 15.4% during the first quarter. Royal Bank of Canada now owns 52,848 shares of the company’s stock worth $1,122,000 after buying an additional 7,042 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Genesco during the first quarter worth about $26,000. Empowered Funds LLC grew its holdings in shares of Genesco by 5.3% during the first quarter. Empowered Funds LLC now owns 64,783 shares of the company’s stock worth $1,375,000 after buying an additional 3,282 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Genesco during the second quarter worth about $208,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Genesco by 31.4% during the second quarter. Russell Investments Group Ltd. now owns 17,845 shares of the company’s stock worth $351,000 after buying an additional 4,268 shares in the last quarter. 94.51% of the stock is currently 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.