Brokerages Set Genesco Inc. (NYSE:GCO) Target Price at $28.50

Shares of Genesco Inc. (NYSE:GCO) have been given a consensus rating of “Hold” by the five ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $30.3333.

A number of research firms recently commented on GCO. Seaport Res Ptn raised Genesco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Zacks Research lowered shares of Genesco from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Truist Financial decreased their price target on shares of Genesco from $31.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Genesco in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group set a $26.00 target price on shares of Genesco in a research report on Thursday.

Institutional Investors Weigh In On Genesco

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp boosted its stake in Genesco by 16.5% in the 1st quarter. Mackenzie Financial Corp now owns 16,242 shares of the company’s stock worth $345,000 after buying an additional 2,305 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Genesco during the 1st quarter valued at about $424,000. Vanguard Group Inc. lifted its holdings in shares of Genesco by 23.9% during the 1st quarter. Vanguard Group Inc. now owns 899,123 shares of the company’s stock worth $19,088,000 after acquiring an additional 173,255 shares during the period. Nuveen LLC acquired a new stake in shares of Genesco in the first quarter worth approximately $753,000. Finally, Brandywine Global Investment Management LLC grew its holdings in Genesco by 17.0% in the first quarter. Brandywine Global Investment Management LLC now owns 40,360 shares of the company’s stock valued at $857,000 after purchasing an additional 5,860 shares during the period. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Genesco Trading Down 6.7%

Shares of GCO opened at $22.75 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 0.30. The firm has a 50 day simple moving average of $30.45 and a 200-day simple moving average of $27.36. Genesco has a 1-year low of $16.19 and a 1-year high of $44.80. The stock has a market cap of $245.72 million, a price-to-earnings ratio of -126.40 and a beta of 1.75.

Genesco (NYSE:GCO) last posted its earnings results on Thursday, December 4th. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.08). The company had revenue of $616.22 million during the quarter, compared to analysts’ expectations of $618.62 million. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Genesco has set its FY 2026 guidance at 0.950-0.95 EPS. Equities analysts forecast that Genesco will post 0.94 EPS for the current fiscal year.

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.