Merrill Lynch Keeps Their Sell Rating on Macy’s (M)

By Jason Carr

In a report released today, Lorraine Hutchinson from Merrill Lynch reiterated a Sell rating on Macy’s (MResearch Report), with a price target of $4.50. The company’s shares closed last Friday at $5.25, close to its 52-week low of $4.38.

According to TipRanks.com, Hutchinson is a 4-star analyst with an average return of 3.1% and a 51.4% success rate. Hutchinson covers the Consumer Goods sector, focusing on stocks such as Urban Outfitters, Signet Jewelers, and TJX Companies.

Currently, the analyst consensus on Macy’s is a Moderate Sell with an average price target of $4.89.

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The company has a one-year high of $23.40 and a one-year low of $4.38. Currently, Macy’s has an average volume of 32.79M.

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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 retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. Its 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. The company was founded by Rowland Hussey Macy Sr. on March 6, 1929 and is headquartered in Cincinnati, OH.