Macy’s Inc (NYSE:M) had its target price increased by equities research analysts at Deutsche Bank AG from $24.00 to $25.00 in a research note issued to investors on Tuesday. The firm currently has a “hold” rating on the stock. Deutsche Bank AG’s price objective would indicate a potential upside of 6.11% from the stock’s current price.

A number of other brokerages also recently commented on M. Vetr downgraded Macy’s from a “buy” rating to a “hold” rating and set a $30.62 target price on the stock. in a research note on Thursday, April 20th. Jefferies Group LLC restated a “hold” rating and issued a $27.00 target price on shares of Macy’s in a research note on Thursday, May 11th. Zacks Investment Research downgraded Macy’s from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Wunderlich restated a “buy” rating and issued a $24.00 target price on shares of Macy’s in a research note on Friday, May 5th. Finally, Gordon Haskett assumed coverage on Macy’s in a research note on Tuesday, May 9th. They issued a “hold” rating and a $29.00 target price on the stock. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $32.11.

Macy’s (NYSE:M) traded up 1.70% during midday trading on Tuesday, hitting $23.96. The company had a trading volume of 1,596,631 shares. Macy’s has a 52 week low of $20.85 and a 52 week high of $45.41. The stock has a 50 day moving average price of $22.80 and a 200-day moving average price of $27.21. The stock has a market capitalization of $7.30 billion, a PE ratio of 12.92 and a beta of 0.84.

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 the Thomson Reuters’ consensus estimate 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 analyst estimates of $5.49 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The company’s quarterly revenue was down 7.5% on a year-over-year basis. On average, equities analysts predict that Macy’s will post $3.29 EPS for the current year.

TRADEMARK VIOLATION WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/08/08/macys-inc-m-price-target-raised-to-25-00.html.

In related news, Director William H. Lenehan bought 4,390 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was purchased at an average cost of $22.72 per share, for a total transaction of $99,740.80. Following the completion of the acquisition, the director now owns 5,968 shares in the company, valued at approximately $135,592.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Gennette bought 13,085 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was bought 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 of the company’s stock, valued at approximately $2,043,766.35. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TB Alternative Assets Ltd. bought a new position in Macy’s during the first quarter worth about $5,421,000. Washington Trust Bank raised its position in Macy’s by 363.8% in the first quarter. Washington Trust Bank now owns 13,669 shares of the company’s stock worth $405,000 after buying an additional 10,722 shares during the period. Cadence Capital Management LLC raised its position in Macy’s by 43.4% in the first quarter. Cadence Capital Management LLC now owns 56,820 shares of the company’s stock worth $1,684,000 after buying an additional 17,186 shares during the period. Banco Santander S.A. raised its position in Macy’s by 71.4% in the first quarter. Banco Santander S.A. now owns 60,000 shares of the company’s stock worth $1,556,000 after buying an additional 25,000 shares during the period. Finally, OppenheimerFunds Inc. raised its position in Macy’s by 114.2% in the first quarter. OppenheimerFunds Inc. now owns 2,068,938 shares of the company’s stock worth $61,324,000 after buying an additional 1,102,887 shares during the period. Hedge funds and other institutional investors own 84.30% 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.

Analyst Recommendations for Macy`s (NYSE:M)

Receive News & Ratings for Macy's Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc and related companies with MarketBeat.com's FREE daily email newsletter.