Macy’s (NYSE:M) Upgraded by StockNews.com to Buy Rating

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

Other equities research analysts have also recently issued research reports about the stock. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a report on Tuesday, January 14th. Morgan Stanley decreased their price objective on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Finally, UBS Group decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.75.

Macy’s Trading Down 0.5 %

Shares of M stock opened at $15.04 on Friday. Macy’s has a 52-week low of $13.66 and a 52-week high of $22.10. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 25.48 and a beta of 2.05. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The firm has a fifty day moving average of $15.69 and a 200-day moving average of $15.67.

Macy’s (NYSE:M) last announced its 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 firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 EPS. On average, equities research analysts forecast that Macy’s will post 2.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Trifecta Capital Advisors LLC bought a new position in Macy’s during the 4th quarter worth approximately $34,000. Quest Partners LLC bought a new position in Macy’s during the 3rd quarter worth approximately $35,000. Venturi Wealth Management LLC boosted its stake in 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 acquiring an additional 1,685 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after acquiring an additional 969 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in Macy’s during the 4th quarter worth approximately $38,000. Institutional investors own 87.36% of the company’s stock.

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.