Genesco (NYSE:GCO) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Genesco Inc. (NYSE:GCO) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $31.53 and traded as high as $33.97. Genesco shares last traded at $33.6250, with a volume of 150,459 shares changing hands.

Analyst Ratings Changes

GCO has been the subject of a number of recent analyst reports. Zacks Research raised shares of Genesco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. Seaport Research Partners lowered shares of Genesco from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 27th. Truist Financial set a $40.00 price objective on shares of Genesco in a research note on Friday, May 29th. Wall Street Zen downgraded shares of Genesco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings cut Genesco from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.67.

Genesco Stock Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 0.37. The stock has a 50-day simple moving average of $35.61 and a 200-day simple moving average of $31.55. The stock has a market cap of $379.98 million, a P/E ratio of 19.77 and a beta of 1.83.

Genesco (NYSE:GCO) last issued its earnings results on Friday, May 29th. The company reported ($2.18) EPS for the quarter, topping the consensus estimate of ($2.58) by $0.40. The firm had revenue of $487.03 million during the quarter, compared to the consensus estimate of $474.32 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. Research analysts forecast that Genesco Inc. will post 2.25 earnings per share for the current year.

Hedge Funds Weigh In On Genesco

A number of institutional investors have recently added to or reduced their stakes in GCO. New York State Teachers Retirement System acquired a new stake in Genesco in the first quarter valued at approximately $27,000. Group One Trading LLC bought a new stake in shares of Genesco during the fourth quarter worth $26,000. Optiver Holding B.V. increased its holdings in shares of 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 buying an additional 936 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Genesco during the first quarter worth $26,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Genesco in the 4th quarter valued at $37,000. 94.51% of the stock is currently owned by institutional investors and hedge funds.

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.