Macy’s (NYSE:M) Raised to Buy at StockNews.com

Macy’s (NYSE:M) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other analysts also recently commented on the stock. Morgan Stanley lowered their target price on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a report on Tuesday. Finally, Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.86.

Macy’s Stock Up 0.4 %

Shares of Macy’s stock traded up $0.07 during trading hours on Wednesday, reaching $15.96. The company’s stock had a trading volume of 4,356,804 shares, compared to its average volume of 6,321,000. Macy’s has a one year low of $14.06 and a one year high of $22.10. The company has a market capitalization of $4.43 billion, a P/E ratio of 24.94 and a beta of 2.11. The stock’s fifty day simple moving average is $15.49 and its two-hundred day simple moving average is $16.76. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48.

Hedge Funds Weigh In On Macy’s

Large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new position in shares of Macy’s in the first quarter valued at approximately $1,043,000. WINTON GROUP Ltd lifted its position in Macy’s by 96.4% during the second quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock valued at $2,047,000 after purchasing an additional 52,337 shares during the last quarter. Royce & Associates LP lifted its position in Macy’s by 5.2% during the third quarter. Royce & Associates LP now owns 1,420,000 shares of the company’s stock valued at $22,280,000 after purchasing an additional 70,000 shares during the last quarter. International Assets Investment Management LLC lifted its position in Macy’s by 454.3% during the third quarter. International Assets Investment Management LLC now owns 111,587 shares of the company’s stock valued at $1,751,000 after purchasing an additional 91,455 shares during the last quarter. Finally, Alden Global Capital LLC lifted its position in Macy’s by 56.1% during the second quarter. Alden Global Capital LLC now owns 606,741 shares of the company’s stock valued at $11,649,000 after purchasing an additional 218,146 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.