Macy’s (NYSE:M) Rating Increased to Buy at StockNews.com

Macy’s (NYSE:M) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. lowered their target price on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a research note on Tuesday. Finally, UBS Group reduced their target price on Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.78.

Macy’s Price Performance

Shares of M traded down $0.52 during trading hours on Tuesday, reaching $14.04. The company had a trading volume of 11,517,984 shares, compared to its average volume of 8,216,779. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67. Macy’s has a 12-month low of $14.01 and a 12-month high of $22.10. The firm has a 50 day simple moving average of $16.18 and a 200-day simple moving average of $16.13. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 23.80 and a beta of 2.07.

Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Macy’s’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 earnings per share. Research analysts expect that Macy’s will post 2.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of M. Quest Partners LLC acquired a new stake in Macy’s during the third quarter worth about $35,000. Venturi Wealth Management LLC grew its holdings 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 worth $36,000 after purchasing an additional 1,685 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Macy’s during the 3rd quarter worth approximately $39,000. Abich Financial Wealth Management LLC purchased a new position in Macy’s in the second quarter valued at approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Macy’s in the second quarter worth $62,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.