GCO Should I Buy
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Genesco Inc. (GCO) is not a strong buy at the moment for a beginner investor with a long-term strategy. The company's financial performance is weak, with a significant drop in net income and EPS, and analysts have lowered price targets due to disappointing guidance. Additionally, insider selling has increased, and there are no recent positive news catalysts. While the technical indicators suggest the stock is near support levels, the lack of strong trading signals and the absence of clear growth drivers make it prudent to hold off on buying this stock right now.
The stock is trading at $27.76, with key support at $27.374 and resistance at $30.33. The MACD is negative (-0.529), RSI is at 29.544 (neutral), and moving averages are converging, indicating no clear trend. The stock is near its support level, but there is no strong technical signal for a buy.
The company's revenue increased by 3.34% YoY in Q3 2026, and Seaport Research remains bullish on Journey's path with anticipated EPS growth in FY27.
Net income dropped by -128.29% YoY, EPS decreased by -128.41% YoY, and gross margin declined by -2.09% YoY. Analysts have lowered price targets due to disappointing guidance and margin pressures. Insider selling has increased by 133.76% over the last month.
In Q3 2026, revenue increased to $616.22M (+3.34% YoY), but net income dropped to $5.36M (-128.29% YoY), and EPS fell to $0.50 (-128.41% YoY). Gross margin also declined to 46.84% (-2.09% YoY).
Analysts have lowered price targets recently: Truist to $27, Jefferies to $26, and Seaport Research to $38. Truist and Jefferies maintain Hold ratings, while Seaport Research maintains a Buy rating despite disappointment in revised guidance.
