Genesco (NYSE:GCO) Price Target Lowered to $38.00 at Truist Financial

Genesco (NYSE:GCO) had its price target reduced by stock analysts at Truist Financial from $40.00 to $38.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 7.71% from the stock’s previous close.

GCO has been the topic of a number of other research reports. Weiss Ratings lowered shares of Genesco from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Zacks Research lowered shares of Genesco from a “strong-buy” rating to a “hold” rating in a report on Friday, July 31st. Wall Street Zen downgraded Genesco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Seaport Research Partners lowered Genesco from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Genesco presently has a consensus rating of “Hold” and a consensus price target of $36.00.

Genesco Trading Up 2.4%

Genesco stock traded up $0.84 during trading hours on Friday, reaching $35.28. The company had a trading volume of 119,269 shares, compared to its average volume of 229,305. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 0.37. Genesco has a 12-month low of $21.92 and a 12-month high of $43.60. The company has a 50-day moving average price of $35.48 and a 200 day moving average price of $33.35. The firm has a market cap of $391.96 million, a price-to-earnings ratio of 20.46 and a beta of 1.80.

Genesco (NYSE:GCO) last released its quarterly earnings data on Thursday, September 3rd. The company reported ($0.83) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.54. Genesco had a return on equity of 2.66% and a net margin of 0.80%.The firm had revenue of $529.86 million during the quarter, compared to analyst estimates of $527.26 million. During the same quarter in the prior year, the firm posted ($1.79) earnings per share. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Equities analysts forecast that Genesco will post 2.25 earnings per share for the current year.

Insider Activity

In related news, Director Gregory Sandfort purchased 2,958 shares of Genesco stock in a transaction that occurred on Thursday, July 9th. The shares were bought at an average price of $33.80 per share, for a total transaction of $99,980.40. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. New York State Teachers Retirement System bought a new position in shares of Genesco in the 1st quarter worth approximately $27,000. Legal & General Group Plc bought a new stake in shares of Genesco during the second quarter valued at approximately $32,000. Group One Trading LLC bought a new stake in shares of Genesco during the fourth quarter valued at approximately $26,000. Optiver Holding B.V. grew its stake in Genesco by 550.6% in the first quarter. Optiver Holding B.V. now owns 1,106 shares of the company’s stock worth $32,000 after purchasing an additional 936 shares during the period. Finally, Jones Financial Companies Lllp bought a new position in Genesco in the first quarter worth $26,000. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Genesco News Roundup

Here are the key news stories impacting Genesco this week:

• Positive Sentiment: Genesco reported adjusted EPS of a $0.83 loss, substantially better than the $1.37 loss analysts expected, while revenue of $529.9 million exceeded consensus by approximately $2.7 million. The result also improved significantly from a $1.79 per-share loss a year earlier. Genesco Boosts FY27 Adjusted EPS Outlook
• Positive Sentiment: Management raised its fiscal 2027 adjusted EPS outlook to the high end of its $2.00-$2.40 range, implying roughly $2.40 per share versus the current consensus estimate of $2.25. Revenue guidance remained approximately $2.4 billion. Genesco Fiscal 2027 Outlook
• Positive Sentiment: Journeys comparable sales rose 2%, and Johnston & Murphy comparable sales increased 4%. Genesco also plans approximately 95 Journeys 4.0 store openings, supporting expectations for continued growth in its key banner. Genesco Turnaround and Journeys Growth
• Neutral Sentiment: GAAP net income was $3.5 million, compared with an $18.5 million loss last year, while gross margin improved to 51.4% from 45.8%. The company received $22.5 million in tariff refunds, including interest, during the quarter, which materially boosted reported results. Genesco Fiscal 2027 Results
• Negative Sentiment: Sales declined 3% year over year, total comparable sales fell 1%, and comparable e-commerce sales dropped 6%. The company also ended the quarter with 25 fewer stores, highlighting ongoing pressure in parts of the retail portfolio.
• Negative Sentiment: Investors may discount the reported profit because the tariff refund is a one-time cash benefit. The sustainability of Genesco’s turnaround will depend more heavily on merchandise margins, Journeys’ momentum and improving digital sales. One-Time Cash Payments and Genesco’s Results

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.