Macy's (NYSE:M) Earns "Market Perform" Rating from Telsey Advisory Group

Macy's (NYSE:M - Get Free Report)'s stock had its "market perform" rating reiterated by equities research analysts at Telsey Advisory Group in a report released on Thursday,Benzinga reports. They currently have a $17.00 price objective on the stock. Telsey Advisory Group's price objective would suggest a potential upside of 21.08% from the company's previous close.

A number of other brokerages also recently weighed in on M. 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 research note on Wednesday, January 8th. Gordon Haskett downgraded Macy's from a "buy" rating to an "accumulate" rating in a research report on Thursday, February 13th. Morgan Stanley reduced 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 research report on Thursday, December 12th. UBS Group decreased their price objective on Macy's from $10.00 to $9.00 and set a "sell" rating on the stock in a report on Thursday, December 12th. Finally, Benchmark upgraded shares of Macy's to a "strong-buy" rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $17.14.

Macy's Stock Performance

Shares of NYSE:M traded down $0.31 during mid-day trading on Thursday, reaching $14.04. The company had a trading volume of 8,419,888 shares, compared to its average volume of 6,466,949. Macy's has a one year low of $13.66 and a one year high of $22.10. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The company's 50-day moving average price is $15.39 and its 200-day moving average price is $15.58. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 23.80 and a beta of 2.05.

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

Institutional Trading of Macy's

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Trifecta Capital Advisors LLC bought a new stake in shares of Macy's in the 4th quarter worth $34,000. Quest Partners LLC bought a new stake in Macy's in the 3rd quarter worth about $35,000. Venturi Wealth Management LLC raised its position in Macy's by 282.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company's stock worth $36,000 after buying an additional 1,685 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Macy's by 82.1% during the 4th 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 period. Finally, Kestra Investment Management LLC purchased a new stake in shares of Macy's during the 4th quarter valued at about $38,000. Hedge funds and other 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.