Genesco (NYSE:GCO) Cut to Hold at Zacks Research

Zacks Research cut shares of Genesco (NYSE:GCO) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

Several other brokerages also recently commented on GCO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Genesco in a research note on Wednesday, October 8th. Jefferies Financial Group upped their price target on Genesco from $24.00 to $29.00 and gave the company a “hold” rating in a report on Friday, August 29th. Truist Financial lifted 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. Seaport Res Ptn raised Genesco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Finally, Wall Street Zen upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.00.

Genesco Stock Performance

Shares of GCO stock opened at $29.54 on Monday. The company has a market capitalization of $319.06 million, a price-to-earnings ratio of -12.11 and a beta of 2.27. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.35 and a current ratio of 1.56. Genesco has a one year low of $16.19 and a one year high of $44.80. The company’s 50-day moving average is $30.77 and its 200 day moving average is $25.27.

Genesco (NYSE:GCO) last issued its earnings results on Thursday, August 28th. The company reported ($1.14) earnings per share (EPS) 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 firm had revenue of $545.97 million for the quarter, compared to the consensus estimate of $531.89 million. During the same quarter in the prior year, the firm posted ($0.83) earnings per share. The business’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. Sell-side analysts expect that Genesco will post 0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Genesco

A number of large investors have recently made changes to their positions in GCO. Silver Oak Securities Incorporated bought a new position in shares of Genesco in the 1st quarter worth approximately $293,000. Vanguard Group Inc. grew its position in 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 buying an additional 173,255 shares during the period. XTX Topco Ltd bought a new stake in Genesco during the first quarter valued at approximately $424,000. Cubist Systematic Strategies LLC increased its holdings in Genesco by 269.8% during the first quarter. Cubist Systematic Strategies LLC now owns 61,067 shares of the company’s stock valued at $1,296,000 after buying an additional 44,552 shares during the last quarter. Finally, Pzena Investment Management LLC raised its position in Genesco by 44.4% in the second 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. 94.51% of the stock is currently owned by institutional investors.

About Genesco

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.