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

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

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

Macy’s Stock Down 3.6 %

Macy’s stock traded down $0.52 during trading hours on Tuesday, reaching $14.04. The stock had a trading volume of 11,517,984 shares, compared to its average volume of 8,216,779. Macy’s has a 52 week low of $14.01 and a 52 week high of $22.10. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 23.80 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34. The business’s 50 day moving average price is $16.18 and its 200-day moving average price is $16.13.

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 the consensus estimate of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the company earned $0.21 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts anticipate that Macy’s will post 2.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in M. Lind Value II ApS purchased a new position in shares of Macy’s during the fourth quarter worth about $6,733,000. FNY Investment Advisers LLC grew its stake in shares of Macy’s by 65.5% in the 4th quarter. FNY Investment Advisers LLC now owns 7,500 shares of the company’s stock valued at $126,000 after purchasing an additional 2,967 shares during the last quarter. Wedmont Private Capital increased its holdings in shares of Macy’s by 17.2% in the fourth quarter. Wedmont Private Capital now owns 22,141 shares of the company’s stock valued at $351,000 after purchasing an additional 3,254 shares during the period. Range Financial Group LLC acquired a new position in shares of Macy’s in the fourth quarter valued at approximately $285,000. Finally, Nordea Investment Management AB raised its stake in shares of Macy’s by 4.0% during the fourth quarter. Nordea Investment Management AB now owns 273,872 shares of the company’s stock worth $4,671,000 after purchasing an additional 10,541 shares during the last quarter. Hedge funds and other institutional investors 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.