Truist Financial Cuts Genesco (NYSE:GCO) Price Target to $38.00

Genesco (NYSE:GCO) had its price target cut by Truist Financial from $40.00 to $38.00 in a report published on Friday,Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts have also issued reports on GCO. Zacks Research lowered shares of Genesco from a “strong-buy” rating to a “hold” rating in a report on Friday, July 31st. Weiss Ratings lowered shares of Genesco from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, June 12th. Wall Street Zen cut shares of Genesco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Seaport Research Partners downgraded shares of Genesco from a “buy” rating to a “neutral” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.00.

Genesco Stock Performance

NYSE:GCO opened at $35.90 on Friday. Genesco has a twelve month low of $21.92 and a twelve month high of $43.60. The company has a quick ratio of 0.32, a current ratio of 1.58 and a debt-to-equity ratio of 0.03. The stock’s 50-day simple moving average is $35.48 and its 200 day simple moving average is $33.40. The firm has a market capitalization of $398.85 million, a PE ratio of 9.35 and a beta of 1.80.

Genesco (NYSE:GCO) last issued its earnings results on Thursday, September 3rd. The company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($1.37) by $0.54. The firm had revenue of $529.86 million during the quarter, compared to the consensus estimate of $527.26 million. Genesco had a return on equity of 3.13% and a net margin of 1.71%.During the same quarter in the previous year, the firm earned ($1.79) earnings per share. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. On average, analysts anticipate that Genesco will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gregory Sandfort bought 2,958 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were purchased at an average cost of $33.80 per share, with a total value of $99,980.40. Following the acquisition, the director owned 29,172 shares of the company’s stock, valued at $986,013.60. This represents a 11.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 23.11% of the company’s stock.

Hedge Funds Weigh In On Genesco

Hedge funds have recently made changes to their positions in the stock. Group One Trading LLC acquired a new position in shares of Genesco in the fourth quarter worth approximately $26,000. Jones Financial Companies Lllp acquired a new stake in Genesco during the first quarter worth approximately $26,000. New York State Teachers Retirement System acquired a new stake in shares of Genesco during the 1st quarter worth approximately $27,000. Optiver Holding B.V. grew its holdings in Genesco by 550.6% in 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, Legal & General Group Plc bought a new stake in Genesco in the second quarter valued at $32,000. 94.51% of the stock is currently owned by institutional investors.

Key Genesco News

Here are the key news stories impacting Genesco this week:

• Positive Sentiment: Genesco reported an adjusted loss of $0.83 per share, significantly better than the $1.37 loss analysts expected and improved from a $1.79 loss a year earlier. Revenue of approximately $529.9 million also exceeded consensus estimates of $527.3 million. Genesco Boosts FY27 Adjusted EPS Outlook
• Positive Sentiment: The company raised its fiscal 2027 adjusted EPS outlook to the high end of its existing $2.00-$2.40 range, implying confidence in its turnaround plan. Revenue guidance of about $2.4 billion was maintained, broadly matching analyst expectations. Genesco Signals Fiscal 2027 EPS at High End
• Positive Sentiment: Journeys comparable sales rose 2%, while Johnston & Murphy comparable sales increased 4%. Genesco also plans to open approximately 95 Journeys 4.0 locations, supporting expectations for future growth.
• Positive Sentiment: GAAP gross margin expanded to 51.4% from 45.8%, and the company swung to $3.5 million of net income from an $18.5 million loss in the prior-year quarter.
• Neutral Sentiment: Truist Financial lowered its price target from $40 to $38 and kept a “hold” rating. The revised target still indicates modest upside, but signals limited near-term conviction.
• Negative Sentiment: Sales declined 3% year over year, comparable sales fell 1%, and e-commerce comparable sales dropped 6%. An analysis also cautioned that the $22.5 million tariff refund, including interest, materially boosted quarterly results and may obscure underlying operating performance. One-Time Cash Payments Distort the Real Picture

Genesco Company Profile

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.