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.

About Macy’s

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.

Analyst Recommendations for Macy`s (NYSE:M)

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