Macy’s’ (M) Market Perform Rating Reaffirmed at Telsey Advisory Group

Macy’s (NYSE:M)‘s stock had its “market perform” rating reiterated by equities researchers at Telsey Advisory Group in a note issued to investors on Thursday,Benzinga reports. They presently have a $17.00 price objective on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 17.00% from the stock’s current price.

M has been the subject of several other reports. Morgan Stanley reduced their price objective 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. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Benchmark raised shares of Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. UBS Group cut 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 report on Thursday, December 12th. One equities research 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 company has a consensus rating of “Hold” and an average price target of $17.75.

Macy’s Price Performance

Shares of NYSE M opened at $14.53 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. Macy’s has a one year low of $13.66 and a one year high of $22.10. The firm has a market capitalization of $4.03 billion, a P/E ratio of 24.63 and a beta of 2.05. The company’s fifty day moving average is $15.46 and its two-hundred day moving average is $15.61.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the firm posted $0.21 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts forecast that Macy’s will post 2.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Macy’s

Institutional investors have recently modified their holdings of the company. Trifecta Capital Advisors LLC acquired a new position in Macy’s in the fourth quarter valued at $34,000. Jones Financial Companies Lllp grew its holdings in Macy’s by 82.1% in the 4th 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 during the period. Quest Partners LLC acquired a new position in shares of Macy’s during the 3rd quarter valued at about $35,000. Kestra Investment Management LLC purchased a new position in shares of Macy’s during the 4th quarter worth about $38,000. Finally, Venturi Wealth Management LLC boosted 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 worth $36,000 after acquiring an additional 1,685 shares during the last quarter. 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.