Macy’s (M) Upgraded to “Sell” by OTR Global

Macy’s (NYSE:M) was upgraded by analysts at OTR Global to a “sell” rating in a research note issued to investors on Monday, The Fly reports.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity restated a “buy” rating and issued a $9.50 price objective on shares of Macy’s in a research note on Thursday, November 16th. Vetr upgraded shares of Macy’s from a “buy” rating to a “strong-buy” rating and set a $27.57 price objective on the stock in a research note on Monday. BMO Capital Markets restated a “buy” rating and issued a $36.00 price objective on shares of Macy’s in a research note on Thursday, November 2nd. ValuEngine downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $23.00 target price on shares of Macy’s in a research report on Monday, September 18th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $25.48.

Shares of Macy’s (NYSE:M) traded down $0.21 during mid-day trading on Monday, reaching $24.59. The company’s stock had a trading volume of 15,521,300 shares, compared to its average volume of 10,244,984. Macy’s has a one year low of $17.41 and a one year high of $39.78. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29. The firm has a market capitalization of $7,489.28, a P/E ratio of 8.28, a PEG ratio of 0.85 and a beta of 0.97.

Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. Macy’s had a return on equity of 21.20% and a net margin of 2.83%. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter last year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. sell-side analysts expect that Macy’s will post 3.39 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Macy’s by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,623 shares of the company’s stock worth $526,000 after purchasing an additional 65 shares during the period. Sentry Investment Management LLC increased its position in Macy’s by 1.0% in the second quarter. Sentry Investment Management LLC now owns 23,637 shares of the company’s stock worth $549,000 after purchasing an additional 245 shares during the period. State of Tennessee Treasury Department increased its position in Macy’s by 0.3% in the second quarter. State of Tennessee Treasury Department now owns 83,286 shares of the company’s stock worth $1,936,000 after purchasing an additional 289 shares during the period. Thrivent Financial For Lutherans grew its position in shares of Macy’s by 2.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 11,568 shares of the company’s stock worth $269,000 after buying an additional 330 shares during the period. Finally, Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Macy’s during the 2nd quarter worth about $335,000. 82.29% of the stock is owned by institutional investors and hedge funds.

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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.