Vetr Downgrades Macy’s (M) to Buy

Macy’s (NYSE:M) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Monday. They presently have a $27.26 target price on the stock. Vetr‘s price objective points to a potential upside of 8.09% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. Susquehanna Bancshares set a $38.00 price target on shares of Macy’s and gave the stock a “buy” rating in a research note on Friday, October 20th. Citigroup cut shares of Macy’s from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $21.00 to $16.00 in a research note on Monday, October 30th. Royal Bank Of Canada set a $21.00 price target on shares of Macy’s and gave the stock a “sector perform” rating in a research note on Friday, October 20th. Zacks Investment Research cut shares of Macy’s from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $36.00 price target on shares of Macy’s in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $25.41.

Macy’s (NYSE M) opened at $25.22 on Monday. The company has a market cap of $7,857.81, a price-to-earnings ratio of 8.69, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29. Macy’s has a 12-month low of $17.41 and a 12-month high of $43.79.

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

Large investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Macy’s by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,623 shares of the company’s stock worth $526,000 after acquiring an additional 65 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Macy’s by 1.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the company’s stock worth $439,000 after acquiring an additional 200 shares during the period. Sentry Investment Management LLC lifted its holdings in shares of Macy’s by 1.0% during the 2nd quarter. Sentry Investment Management LLC now owns 23,637 shares of the company’s stock worth $549,000 after acquiring an additional 245 shares during the period. State of Tennessee Treasury Department lifted its holdings in shares of Macy’s by 0.3% during the 2nd quarter. State of Tennessee Treasury Department now owns 83,286 shares of the company’s stock worth $1,936,000 after acquiring an additional 289 shares during the period. Finally, Thrivent Financial For Lutherans lifted its holdings 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 acquiring an additional 330 shares during the period. Institutional investors own 82.27% of the company’s stock.

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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.

Analyst Recommendations for Macy`s (NYSE:M)

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