Gordon Haskett Downgrades Macy’s (NYSE:M) to Accumulate

Gordon Haskett lowered shares of Macy’s (NYSE:M) from a buy rating to an accumulate rating in a research report report published on Thursday morning, Marketbeat Ratings reports.

Several other brokerages also recently weighed in on M. StockNews.com downgraded Macy’s from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Morgan Stanley decreased their price target on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. UBS Group decreased their price target on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. decreased their price target on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. One investment 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.75.

Macy’s Stock Performance

Shares of M opened at $15.13 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The firm has a market cap of $4.20 billion, a PE ratio of 25.65 and a beta of 2.05. The company’s 50 day simple moving average is $15.72 and its 200-day simple moving average is $15.68. Macy’s has a 12-month low of $13.66 and a 12-month high of $22.10.

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 business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.21 earnings per share. As a group, equities analysts predict that Macy’s will post 2.39 EPS for the current year.

Institutional Investors Weigh In On Macy’s

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Trifecta Capital Advisors LLC purchased a new position in shares of Macy’s in the fourth quarter valued at $34,000. Jones Financial Companies Lllp increased its position in shares of Macy’s by 82.1% in the fourth 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 in the last quarter. Quest Partners LLC purchased a new position in shares of Macy’s in the third quarter valued at $35,000. Kestra Investment Management LLC purchased a new position in shares of Macy’s in the fourth quarter valued at $38,000. Finally, Venturi Wealth Management LLC increased its position in shares of Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after buying an additional 1,685 shares in the last quarter. Institutional investors and hedge funds 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.