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

Genesco Inc. (NYSE:GCO) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Jefferies Financial Group raised their price target on Genesco from $24.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, August 29th. Truist Financial raised their price target on Genesco from $25.00 to $31.00 and gave the stock a “hold” rating in a research report on Friday, August 29th. Zacks Research upgraded Genesco from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 29th. Seaport Res Ptn upgraded Genesco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Finally, Wall Street Zen upgraded Genesco from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.00.

Genesco Trading Up 3.9%

The company has a market cap of $326.00 million, a PE ratio of -12.37 and a beta of 2.27. The company has a current ratio of 1.56, a quick ratio of 0.35 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $30.39 and a 200 day moving average price of $24.85.

Genesco (NYSE:GCO) last released its earnings results on Thursday, August 28th. The company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.11. The company had revenue of $545.97 million during the quarter, compared to analysts’ expectations of $531.89 million. Genesco had a positive return on equity of 1.75% and a negative net margin of 1.03%.The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.83) EPS. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. Sell-side analysts predict that Genesco Inc. will post 0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GCO. Silver Oak Securities Incorporated purchased a new position in Genesco during the first quarter valued at $293,000. Bank of New York Mellon Corp raised its stake in Genesco by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 33,737 shares of the company’s stock valued at $716,000 after buying an additional 702 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Genesco by 177.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 22,048 shares of the company’s stock valued at $468,000 after buying an additional 14,093 shares during the last quarter. KLP Kapitalforvaltning AS raised its stake in Genesco by 25.4% during the first quarter. KLP Kapitalforvaltning AS now owns 17,800 shares of the company’s stock valued at $378,000 after buying an additional 3,600 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Genesco by 16.5% during the first quarter. Mackenzie Financial Corp now owns 16,242 shares of the company’s stock valued at $345,000 after buying an additional 2,305 shares during the last quarter. Hedge funds and other institutional investors own 94.51% of the company’s stock.

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.