Macy’s (NYSE:M) was downgraded by stock analysts at Atlantic Securities from a “neutral” rating to an “underweight” rating in a note issued to investors on Thursday, MarketBeat.com reports. They presently have a $28.00 target price on the stock, down from their prior target price of $39.00. Atlantic Securities’ price target indicates a potential downside of 11.64% from the company’s previous close.

Other equities analysts have also issued reports about the company. Zacks Investment Research raised Macy’s from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Wednesday, October 3rd. Canaccord Genuity raised Macy’s from an “average” rating to a “buy” rating and set a $5.50 price objective for the company in a report on Friday, November 16th. Deutsche Bank increased their price objective on Macy’s from $33.00 to $35.00 and gave the stock a “hold” rating in a report on Thursday, August 16th. Royal Bank of Canada set a $39.00 price objective on Macy’s and gave the stock a “hold” rating in a report on Thursday, August 16th. Finally, Standpoint Research lowered Macy’s from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $34.30.

Shares of M stock opened at $31.69 on Thursday. Macy’s has a 12-month low of $22.47 and a 12-month high of $41.99. The company has a market capitalization of $9.94 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 0.93 and a beta of 0.56. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.35 and a quick ratio of 0.24.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, November 14th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.13. Macy’s had a return on equity of 22.33% and a net margin of 6.72%. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Macy’s will post 4.08 EPS for the current fiscal year.

In related news, Director William H. Lenehan acquired 3,154 shares of the business’s stock in a transaction dated Friday, November 16th. The stock was bought at an average price of $31.74 per share, for a total transaction of $100,107.96. Following the transaction, the director now owns 11,214 shares of the company’s stock, valued at $355,932.36. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Harry A. Lawton III sold 28,684 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $36.05, for a total value of $1,034,058.20. Following the sale, the president now owns 54,722 shares of the company’s stock, valued at approximately $1,972,728.10. The disclosure for this sale can be found here. Insiders sold 233,312 shares of company stock valued at $7,817,972 over the last 90 days. 2.36% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. Ffcm LLC lifted its holdings in shares of Macy’s by 224.4% in the third quarter. Ffcm LLC now owns 45,795 shares of the company’s stock valued at $1,605,000 after purchasing an additional 31,678 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Macy’s by 8,081.8% in the second quarter. CIBC Private Wealth Group LLC now owns 99,981 shares of the company’s stock valued at $3,742,000 after purchasing an additional 98,759 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Macy’s by 11.4% in the second quarter. Van ECK Associates Corp now owns 26,239 shares of the company’s stock valued at $982,000 after purchasing an additional 2,694 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of Macy’s by 3.1% in the third quarter. Commonwealth Bank of Australia now owns 227,223 shares of the company’s stock valued at $7,886,000 after purchasing an additional 6,800 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Macy’s by 39.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 5,655 shares of the company’s stock valued at $196,000 after purchasing an additional 1,588 shares in the last quarter. Institutional investors own 92.58% of the company’s stock.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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Analyst Recommendations for Macy`s (NYSE:M)

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