Macy’s (NYSE:M) Price Target Raised to $19.00 at JPMorgan Chase & Co.

Macy’s (NYSE:M) had its target price boosted by analysts at JPMorgan Chase & Co. from $16.00 to $19.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 32.68% from the company’s current price.

A number of other analysts have also issued reports on the stock. Bank of America cut their price target on shares of Macy’s from $13.00 to $12.00 and set an “underperform” rating on the stock in a research note on Wednesday, August 23rd. Telsey Advisory Group upped their price objective on Macy’s from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday. Citigroup decreased their target price on Macy’s from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, August 23rd. Gordon Haskett lowered Macy’s from a “buy” rating to a “hold” rating and set a $13.00 price target on the stock. in a research report on Wednesday, September 27th. Finally, UBS Group reduced their target price on shares of Macy’s from $12.00 to $10.00 and set a “sell” rating on the stock in a report on Wednesday, August 23rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.00.

Macy’s Trading Up 7.4 %

Shares of NYSE M traded up $0.99 during trading on Friday, hitting $14.32. 10,709,231 shares of the company were exchanged, compared to its average volume of 11,185,648. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.27 and a current ratio of 1.26. Macy’s has a 12-month low of $10.54 and a 12-month high of $25.12. The company has a fifty day moving average price of $11.47 and a 200-day moving average price of $13.84. The firm has a market capitalization of $3.92 billion, a PE ratio of 5.28, a P/E/G ratio of 0.38 and a beta of 1.90.

Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, November 16th. The company reported $0.21 earnings per share for the quarter. Macy’s had a return on equity of 22.46% and a net margin of 3.15%. The company had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Macy’s will post 2.78 EPS for the current year.

Institutional Investors Weigh In On Macy’s

Several large investors have recently modified their holdings of M. Vanguard Group Inc. grew its holdings in Macy’s by 5.7% during the first quarter. Vanguard Group Inc. now owns 30,550,118 shares of the company’s stock worth $744,202,000 after acquiring an additional 1,642,941 shares during the period. Dimensional Fund Advisors LP increased its holdings in Macy’s by 15.4% in the second quarter. Dimensional Fund Advisors LP now owns 12,037,380 shares of the company’s stock valued at $193,201,000 after buying an additional 1,605,605 shares in the last quarter. State Street Corp lifted its position in shares of Macy’s by 10.3% during the 2nd quarter. State Street Corp now owns 11,241,180 shares of the company’s stock valued at $182,203,000 after acquiring an additional 1,050,825 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Macy’s by 1,054.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 10,846,841 shares of the company’s stock worth $174,092,000 after acquiring an additional 9,906,912 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Macy’s by 27.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock worth $246,184,000 after acquiring an additional 2,155,936 shares during the period. Hedge funds and other institutional investors own 82.69% of the company’s stock.

Macy’s Company Profile

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.