Genesco (NYSE:GCO) Stock Gets Downgrade from Wall Street Zen

Genesco (NYSE:GCO) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

GCO has been the topic of a number of other research reports. Truist Financial lowered their price target on Genesco from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, September 4th. Weiss Ratings raised Genesco from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Finally, Zacks Research raised Genesco from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. Two analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.00.

Genesco Trading Down 0.5%

Genesco stock opened at $36.34 on Friday. Genesco has a 52 week low of $21.92 and a 52 week high of $43.60. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.32 and a current ratio of 1.58. The firm has a market capitalization of $393.20 million, a price-to-earnings ratio of 9.46 and a beta of 1.81. The company has a 50 day moving average price of $35.08 and a 200 day moving average price of $34.93.

Genesco (NYSE:GCO) last announced its earnings results on Thursday, September 3rd. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.54. The company had revenue of $529.86 million for the quarter, compared to the consensus estimate of $527.26 million. Genesco had a net margin of 1.71% and a return on equity of 3.14%. During the same period in the previous year, the business earned ($1.79) EPS. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. Research analysts forecast that Genesco will post 2.35 EPS for the current year.

Institutional Investors Weigh In On Genesco

A number of large investors have recently bought and sold shares of GCO. WINTON GROUP Ltd acquired a new position in Genesco during the second quarter valued at approximately $209,000. Engineers Gate Manager LP bought a new position in shares of Genesco in the second quarter valued at approximately $512,000. Integrated Wealth Concepts LLC bought a new position in shares of Genesco in the second quarter valued at approximately $25,000. Penn Capital Management Company LLC acquired a new stake in shares of Genesco in the second quarter worth $531,000. Finally, Empowered Funds LLC acquired a new stake in shares of Genesco in the second quarter worth $3,148,000. 94.51% of the stock is currently owned by institutional investors.

Genesco Company Profile

Genesco Inc is a Nashville, Tennessee-based specialty retailer and branded footwear company. Founded in 1924 as General Shoe Corporation, the company changed its name to Genesco in 1959. It operates retail stores and e-commerce websites offering footwear, apparel and accessories through a portfolio of lifestyle and fashion brands.

Genesco’s principal retail businesses include Journeys and Journeys Kidz, which focus on trend-oriented footwear and apparel for young consumers, and Schuh, a footwear retailer serving customers in the United Kingdom and Ireland.