Macy’s (NYSE:M) Raised to “Buy” at StockNews.com

Macy’s (NYSE:M) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Other analysts also recently issued reports about the stock. UBS Group dropped 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. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Morgan Stanley reduced their price objective on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Gordon Haskett lowered Macy’s from a “buy” rating to an “accumulate” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Macy’s currently has an average rating of “Hold” and an average target price of $17.75.

Macy’s Stock Performance

M stock opened at $15.04 on Friday. The company has a market capitalization of $4.17 billion, a P/E ratio of 25.48 and a beta of 2.05. 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 simple moving average of $15.69 and a 200 day simple moving average of $15.65. Macy’s has a fifty-two week low of $13.66 and a fifty-two week high of $22.10.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. Sell-side analysts predict that Macy’s will post 2.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Macy’s

Several institutional investors have recently made changes to their positions in M. Coldstream Capital Management Inc. lifted its position in shares of Macy’s by 4.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 15,442 shares of the company’s stock worth $261,000 after buying an additional 717 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in Macy’s by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 120,414 shares of the company’s stock valued at $2,039,000 after purchasing an additional 760 shares during the last quarter. Arizona State Retirement System raised its position in shares of Macy’s by 1.2% in the fourth quarter. Arizona State Retirement System now owns 80,549 shares of the company’s stock valued at $1,364,000 after purchasing an additional 958 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Macy’s by 2.4% in the fourth quarter. Pacer Advisors Inc. now owns 41,345 shares of the company’s stock worth $700,000 after buying an additional 960 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in Macy’s by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after buying an additional 969 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Company Profile

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.