Macy’s Upgraded by Macquarie to “Outperform” (M)
Macy’s (NYSE:M) was upgraded by analysts at Macquarie from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $66.00 target price on the stock. Macquarie’s price target suggests a potential upside of 19.44% from the company’s current price.
Shares of Macy’s (NYSE:M) traded down 1.04% during mid-day trading on Monday, hitting $55.26. 7,293,203 shares of the company’s stock traded hands. Macy’s has a 52-week low of $36.89 and a 52-week high of $56.65. The stock’s 50-day moving average is $52.75 and its 200-day moving average is $47.95. The company has a market cap of $20.362 billion and a price-to-earnings ratio of 15.52.
Macy’s (NYSE:M) last released its earnings data on Wednesday, November 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.08. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts predict that Macy’s will post $3.87 earnings per share for the current fiscal year.
In other Macy’s news, Insider Julie Greiner Weiser sold 18,014 shares of the stock on the open market in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $53.72, for a total value of $967,712.08. Following the completion of the sale, the insider now directly owns 64,272 shares of the company’s stock, valued at approximately $3,452,692. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Macy’s in a research note to investors on Friday. They now have a $59.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. upgraded shares of Macy’s from a “neutral” rating to a “buy” rating in a research note to investors on Friday. They now have a $65.00 price target on the stock, up previously from $54.00. Finally, analysts at UBS AG raised their price target on shares of Macy’s from $55.00 to $58.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $57.78.
Macy’s, Inc (NYSE:M) is a retail organization operating stores and Internet Websites under two brands (Macy’s and Bloomingdale’s) that sell a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods in 45 states, the District of Columbia, Guam and Puerto Rico.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.