StockNews.com Upgrades Macy’s (NYSE:M) to Buy

StockNews.com upgraded shares of Macy’s (NYSE:M) from a hold rating to a buy rating in a research report report published on Friday morning.

Other equities research analysts also recently issued reports about the stock. Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a research note on Tuesday, January 14th. UBS Group reduced their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. JPMorgan Chase & Co. reduced their target price on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley dropped their price target on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Macy’s presently has a consensus rating of “Hold” and an average price target of $17.75.

Macy’s Stock Down 0.5 %

Macy’s stock opened at $15.04 on Friday. The stock has a market capitalization of $4.17 billion, a PE ratio of 25.48 and a beta of 2.05. Macy’s has a twelve month low of $13.66 and a twelve month high of $22.10. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average of $15.69 and a 200-day moving average of $15.64.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the company posted $0.21 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Macy’s will post 2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Macy’s

A number of large investors have recently made changes to their positions in M. Trifecta Capital Advisors LLC bought a new stake in shares of Macy’s during the 4th quarter valued at about $34,000. Quest Partners LLC bought a new stake in shares of Macy’s during the 3rd quarter valued at about $35,000. Venturi Wealth Management LLC grew its stake in shares of Macy’s by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after purchasing an additional 1,685 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after purchasing an additional 969 shares during the period. Finally, Kestra Investment Management LLC bought a new position in shares of Macy’s during the 4th quarter valued at approximately $38,000. 87.36% of the stock is currently owned by institutional investors.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.