Gordon Haskett Downgrades Macy’s (NYSE:M) to Hold

Macy’s (NYSE:M) was downgraded by equities researchers at Gordon Haskett from an “accumulate” rating to a “hold” rating in a research report issued on Thursday, MarketBeat Ratings reports.

M has been the subject of a number of other research reports. Morgan Stanley dropped their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Telsey Advisory Group restated a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Macy’s presently has an average rating of “Hold” and an average price target of $16.00.

Macy’s Trading Up 6.6 %

Shares of Macy’s stock opened at $14.10 on Thursday. The business has a fifty day simple moving average of $15.10 and a two-hundred day simple moving average of $15.50. Macy’s has a 1 year low of $12.60 and a 1 year high of $22.10. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 23.89 and a beta of 2.05. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

Macy’s (NYSE:M) last posted its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.25. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. Research analysts forecast that Macy’s will post 2.39 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Trifecta Capital Advisors LLC acquired a new position in shares of Macy’s in the fourth quarter valued at approximately $34,000. Quest Partners LLC acquired a new position in shares of Macy’s in the third quarter valued at approximately $35,000. Venturi Wealth Management LLC boosted its holdings in Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after acquiring an additional 1,685 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Macy’s by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after acquiring an additional 969 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in Macy’s in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Macy’s

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.