Macy’s (NYSE:M) Rating Lowered to “Accumulate” at Gordon Haskett

Macy’s (NYSE:M) was downgraded by equities research analysts at Gordon Haskett from a “buy” rating to an “accumulate” rating in a research note issued to investors on Thursday, Marketbeat.com reports.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley lowered their price target on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. JPMorgan Chase & Co. lowered their target price on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 target price on shares of Macy’s in a report on Tuesday, January 14th. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Finally, UBS Group lowered their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.75.

Macy’s Price Performance

Shares of NYSE M opened at $15.04 on Thursday. Macy’s has a twelve month low of $13.66 and a twelve month high of $22.10. The stock’s 50 day moving average price is $15.69 and its 200-day moving average price is $15.67. The company has a market capitalization of $4.17 billion, a PE ratio of 25.48 and a beta of 2.05. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Macy’s’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, equities analysts anticipate that Macy’s will post 2.39 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in M. Trifecta Capital Advisors LLC purchased a new position in Macy’s in the fourth quarter worth $34,000. Quest Partners LLC purchased a new position in Macy’s in the third quarter worth $35,000. Venturi Wealth Management LLC grew its position in Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after acquiring an additional 1,685 shares in the last quarter. Jones Financial Companies Lllp grew its position in Macy’s by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after acquiring an additional 969 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new position in Macy’s in the fourth quarter worth $38,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.