Telsey Advisory Group Reaffirms Market Perform Rating for Macy’s (NYSE:M)

Macy’s (NYSE:M)‘s stock had its “market perform” rating restated by investment analysts at Telsey Advisory Group in a research report issued on Tuesday,Benzinga reports. They presently have a $17.00 price objective on the stock. Telsey Advisory Group’s price target indicates a potential upside of 23.10% from the company’s previous close.

Several other equities research analysts also recently commented on M. Gordon Haskett upgraded Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Monday, December 16th. JPMorgan Chase & Co. decreased their price target on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Argus raised shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. UBS Group decreased their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Macy’s presently has an average rating of “Hold” and an average price target of $17.78.

Macy’s Stock Down 1.5 %

Macy’s stock opened at $13.81 on Tuesday. The company has a market capitalization of $3.83 billion, a PE ratio of 23.41 and a beta of 2.07. Macy’s has a 12-month low of $13.66 and a 12-month high of $22.10. The firm’s fifty day moving average is $16.15 and its 200 day moving average is $16.09. 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 (NYSE:M) last announced its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 EPS. As a group, sell-side analysts predict that Macy’s will post 2.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of M. Quest Partners LLC bought a new stake in Macy’s in the third quarter worth about $35,000. Venturi Wealth Management LLC raised its holdings in shares of Macy’s by 282.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after purchasing an additional 1,685 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Macy’s in the third quarter valued at approximately $39,000. Abich Financial Wealth Management LLC purchased a new position in Macy’s in the second quarter valued at approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Macy’s during the second quarter valued at $62,000. 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.