Genesco (NYSE:GCO) Stock Rating Lowered by Wall Street Zen

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

A number of other research firms also recently commented on GCO. Truist Financial upped 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Genesco in a research note on Wednesday, October 8th. Seaport Res Ptn raised shares of Genesco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Jefferies Financial Group lifted their price target on shares of Genesco from $24.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, August 29th. Finally, Zacks Research downgraded shares of Genesco from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.00.

Genesco Trading Down 1.3%

NYSE:GCO traded down $0.40 during mid-day trading on Friday, reaching $30.95. The company’s stock had a trading volume of 3,825 shares, compared to its average volume of 243,161. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.56 and a quick ratio of 0.35. The stock has a market cap of $334.11 million, a P/E ratio of -12.68 and a beta of 2.23. The company’s fifty day simple moving average is $30.70 and its two-hundred day simple moving average is $25.86. Genesco has a twelve month low of $16.19 and a twelve month high of $44.80.

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

Institutional Trading of Genesco

A number of hedge funds have recently made changes to their positions in GCO. Nomura Holdings Inc. bought a new position in Genesco in the 1st quarter worth approximately $16,163,000. Pzena Investment Management LLC boosted its position in Genesco by 44.4% during the 2nd quarter. Pzena Investment Management LLC now owns 1,433,190 shares of the company’s stock worth $28,220,000 after acquiring an additional 440,837 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of 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 purchasing an additional 214,639 shares in the last quarter. Shay Capital LLC bought a new position in shares of Genesco in the second quarter worth $4,027,000. Finally, Vanguard Group Inc. increased its holdings in shares of Genesco by 23.9% during the first quarter. Vanguard Group Inc. now owns 899,123 shares of the company’s stock valued at $19,088,000 after purchasing an additional 173,255 shares during the period. Institutional investors and hedge funds 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.