Brokerages Set Genesco Inc. (NYSE:GCO) PT at $34.00

Genesco Inc. (NYSE:GCO) has earned a consensus recommendation of “Hold” from the five research firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $36.6667.

Several equities research analysts have recently issued reports on the company. Seaport Research Partners downgraded Genesco from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 27th. Weiss Ratings raised Genesco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Wall Street Zen raised Genesco from a “hold” rating to a “buy” rating in a research report on Saturday. Jefferies Financial Group reaffirmed a “hold” rating on shares of Genesco in a research report on Friday, March 6th. Finally, Truist Financial set a $40.00 price target on Genesco in a research report on Friday.

Genesco Trading Up 6.4%

Shares of NYSE:GCO opened at $39.66 on Friday. The company has a market cap of $430.71 million, a P/E ratio of 22.92 and a beta of 1.83. The stock’s 50-day moving average is $32.83 and its 200-day moving average is $30.12. Genesco has a 52-week low of $19.62 and a 52-week high of $40.04. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.37 and a current ratio of 1.83.

Genesco (NYSE:GCO) last issued its quarterly earnings results on Friday, May 29th. The company reported ($2.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.58) by $0.40. The company had revenue of $487.03 million for the quarter, compared to the consensus estimate of $474.33 million. Genesco had a return on equity of 2.66% and a net margin of 0.80%.Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Equities research analysts predict that Genesco will post 2.19 earnings per share for the current year.

Institutional Investors Weigh In On Genesco

A number of institutional investors have recently added to or reduced their stakes in GCO. Group One Trading LLC bought a new position in Genesco during the fourth quarter worth about $26,000. Jones Financial Companies Lllp bought a new position in Genesco during the first quarter worth about $26,000. New York State Teachers Retirement System bought a new position in Genesco during the first quarter worth about $27,000. Optiver Holding B.V. lifted its stake in 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 purchasing an additional 936 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in Genesco during the fourth quarter worth about $37,000. 94.51% of the stock is owned by institutional investors and hedge funds.

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.