UBS Group Lowers Macy’s (NYSE:M) Price Target to $8.00

Macy’s (NYSE:M) had its price target lowered by research analysts at UBS Group from $9.00 to $8.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “sell” rating on the stock. UBS Group’s price target suggests a potential downside of 43.24% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Telsey Advisory Group restated a “market perform” rating and set a $17.00 price target on shares of Macy’s in a report on Thursday. Benchmark upgraded Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. 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. Finally, Guggenheim reiterated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.00.

Macy’s Stock Up 6.6 %

NYSE M opened at $14.10 on Friday. The stock’s 50-day moving average price is $15.03 and its 200-day moving average price is $15.46. 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 has a 52 week low of $12.60 and a 52 week high of $22.10. The company has a market capitalization of $3.91 billion, a P/E ratio of 23.89 and a beta of 2.07.

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

Institutional Investors Weigh In On Macy’s

Institutional investors and hedge funds have recently bought and sold shares of the company. Trifecta Capital Advisors LLC bought a new stake in Macy’s during the 4th quarter valued at $34,000. Quest Partners LLC bought a new stake in Macy’s during the 3rd quarter valued at $35,000. Venturi Wealth Management LLC raised its position in Macy’s by 282.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after purchasing an additional 1,685 shares in the last quarter. Jones Financial Companies Lllp raised its position 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 purchasing an additional 969 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new stake in Macy’s during the 4th quarter valued at $38,000. 87.36% of the stock is owned by institutional investors.

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.