UBS Group Cuts Macy’s (NYSE:M) Price Target to $8.00

Macy’s (NYSE:M) had its target price cut by UBS Group from $9.00 to $8.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. UBS Group’s price target would indicate a potential downside of 40.14% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on M. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. downgraded shares of Macy’s from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $19.00 to $14.00 in a report on Thursday. Gordon Haskett cut Macy’s from an “accumulate” rating to a “hold” rating in a research note on Thursday. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a report on Thursday. Finally, Benchmark raised Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Macy’s has an average rating of “Hold” and an average price target of $16.14.

Macy’s Stock Up 1.1 %

Shares of NYSE:M opened at $13.36 on Friday. Macy’s has a 52-week low of $12.60 and a 52-week high of $22.10. The stock has a market cap of $3.71 billion, a P/E ratio of 22.63 and a beta of 2.05. The business has a fifty day moving average of $15.19 and a two-hundred day moving average of $15.51. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. On average, research analysts expect that Macy’s will post 2.39 earnings per share for the current year.

Institutional Trading of Macy’s

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Trifecta Capital Advisors LLC acquired a new stake in Macy’s during the 4th quarter worth $34,000. Quest Partners LLC purchased a new stake in shares of Macy’s in the third quarter valued at about $35,000. Venturi Wealth Management LLC boosted its stake in shares of Macy’s by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after buying an additional 1,685 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Macy’s by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after buying an additional 969 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Macy’s in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

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.