Vetr Inc. Downgrades Macy’s Inc (M) to Buy
Macy’s Inc (NYSE:M) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday. They presently have a $26.02 price objective on the stock. Vetr‘s price objective indicates a potential upside of 7.52% from the company’s previous close.
A number of other research analysts have also issued reports on M. Zacks Investment Research lowered Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Wunderlich reiterated a “buy” rating and set a $24.00 target price on shares of Macy’s in a research report on Friday, May 5th. Gordon Haskett initiated coverage on Macy’s in a research report on Tuesday, May 9th. They set a “hold” rating and a $29.00 target price on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $27.00 target price on shares of Macy’s in a research report on Thursday, May 11th. Finally, Telsey Advisory Group decreased their target price on Macy’s from $36.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, May 12th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company’s stock. Macy’s presently has an average rating of “Hold” and a consensus price target of $32.05.
Macy’s (NYSE:M) traded up 2.80% during trading on Thursday, hitting $24.20. 8,594,787 shares of the company were exchanged. The stock has a market capitalization of $7.37 billion, a PE ratio of 13.05 and a beta of 0.84. Macy’s has a 1-year low of $20.85 and a 1-year high of $45.41. The firm’s 50 day moving average price is $22.60 and its 200-day moving average price is $27.41.
Macy’s (NYSE:M) last announced its earnings results on Thursday, May 11th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.12. Macy’s had a net margin of 2.26% and a return on equity of 22.37%. The business had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter last year, the business earned $0.40 EPS. The company’s quarterly revenue was down 7.5% on a year-over-year basis. Equities analysts predict that Macy’s will post $3.34 EPS for the current year.
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In other Macy’s news, Director William H. Lenehan purchased 4,390 shares of the stock in a transaction dated Thursday, June 15th. The stock was acquired at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the acquisition, the director now owns 5,968 shares in the company, valued at approximately $135,592.96. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey Gennette purchased 13,085 shares of the stock in a transaction dated Monday, June 12th. The shares were acquired at an average price of $22.95 per share, with a total value of $300,300.75. Following the completion of the acquisition, the insider now owns 89,053 shares in the company, valued at approximately $2,043,766.35. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC boosted its position in Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after buying an additional 320 shares in the last quarter. Financial Architects Inc boosted its position in Macy’s by 254.5% in the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock worth $136,000 after buying an additional 4,200 shares in the last quarter. Ropes Wealth Advisors LLC boosted its position in Macy’s by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock worth $142,000 after buying an additional 1,866 shares in the last quarter. Winslow Evans & Crocker Inc. boosted its position in Macy’s by 241.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company’s stock worth $164,000 after buying an additional 3,910 shares in the last quarter. Finally, First Manhattan Co. boosted its position in Macy’s by 0.6% in the first quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock worth $188,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
To view Vetr’s full report, visit Vetr’s official website.
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