Genesco (NYSE:GCO – Get Free Report) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.
A number of other research analysts also recently commented on GCO. Truist Financial set a $40.00 price target on shares of Genesco in a report on Friday, May 29th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Genesco in a report on Friday, March 6th. Wall Street Zen raised shares of Genesco from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Weiss Ratings raised shares of Genesco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Finally, Seaport Research Partners lowered shares of Genesco from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.67.
Check Out Our Latest Stock Report on GCO
Genesco Stock Down 0.8%
Genesco (NYSE:GCO – Get Free Report) last announced its quarterly earnings results on Friday, May 29th. The company reported ($2.18) EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $474.33 million. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. As a group, equities research analysts predict that Genesco will post 2.25 earnings per share for the current year.
Hedge Funds Weigh In On Genesco
Institutional investors have recently modified their holdings of the stock. Group One Trading LLC purchased a new position in shares of Genesco during the fourth quarter worth approximately $26,000. Jones Financial Companies Lllp purchased a new position in shares of Genesco during the first quarter worth approximately $26,000. New York State Teachers Retirement System purchased a new position in shares of Genesco during the first quarter worth approximately $27,000. Optiver Holding B.V. increased its position in shares of Genesco by 550.6% during the first quarter. Optiver Holding B.V. now owns 1,106 shares of the company’s stock worth $32,000 after acquiring an additional 936 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of Genesco during the fourth quarter worth approximately $37,000. 94.51% of the stock is 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.
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