Macy’s (NYSE:M) Stock Rating Upgraded by Gordon Haskett

Macy’s (NYSE:M) was upgraded by analysts at Gordon Haskett from a “hold” rating to a “buy” rating in a report issued on Monday, Marketbeat Ratings reports. The brokerage currently has a $20.00 target price on the stock. Gordon Haskett’s target price would suggest a potential upside of 19.55% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley reduced their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. UBS Group cut their price objective on Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. StockNews.com downgraded Macy’s from a “buy” rating to a “hold” rating in a report on Friday, December 13th. Argus upgraded Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.56.

Macy’s Price Performance

Shares of NYSE:M opened at $16.73 on Monday. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy’s has a twelve month low of $14.06 and a twelve month high of $22.10. The stock has a market capitalization of $4.64 billion, a PE ratio of 28.36 and a beta of 2.10. The firm’s 50 day moving average price is $15.85 and its 200-day moving average price is $16.42.

Macy’s (NYSE:M) last released 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 return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the company posted $0.21 earnings per share. The company’s revenue was down 2.4% compared to the same quarter last year. Equities research analysts expect that Macy’s will post 2.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Macy’s by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock valued at $41,765,000 after purchasing an additional 118,626 shares during the last quarter. FMR LLC increased its position in shares of Macy’s by 4.4% during the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after acquiring an additional 195,880 shares during the period. Virtu Financial LLC purchased a new stake in Macy’s during the 3rd quarter worth about $594,000. Alerus Financial NA acquired a new stake in Macy’s in the third quarter valued at approximately $2,144,000. Finally, Retirement Systems of Alabama lifted its position in shares of Macy’s by 57.9% during the 3rd quarter. Retirement Systems of Alabama now owns 782,391 shares of the company’s stock worth $12,276,000 after purchasing an additional 286,879 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

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.