Macy’s Inc Gets a Hold Rating from Wedbush

By Austin Angelo

In a report released today, Michael Pachter from Wedbush maintained a Hold rating on Macy’s Inc (NYSE: M). The company’s shares closed on Friday at $23.93, close to its 52-week high of $45.41.

According to TipRanks.com, Pachter is ranked 0 out of 5 stars with an average return of -2.6% and a 46.8% success rate. Pachter covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, Regal Entertainment, and AMC Entertainment.

Currently, the analyst consensus on Macy’s Inc is Moderate Buy and the average price target is $26.17, representing a 9.4% upside.

In a report issued on July 24, RBC Capital also reiterated a Hold rating on the stock with a $28 price target.

Macy’s Inc’s market cap is currently $7.29B and has a P/E ratio of 12.90. The company has a book value ratio of 1.6938.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of M in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Macy’s, Inc. engages in the operation of stores, websites, and mobile applications. It operates its business under the brand names Macy’s, Bloomingdale’s, and Bluemercury, which sells merchandise, including apparel and accessories, cosmetics, home furnishings, and other consumer goods.