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Macy’s (M) Gets a Buy from Morgan Stanley

Tipranks - Tipranks - Tue Jul 7, 7:18AM CDT

Morgan Stanley analyst Alexandra Straton initiated coverage with a Buy rating on Macy’s today and set a price target of $30.00.

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According to TipRanks, Straton is a 3-star analyst with an average return of 3.6% and a 53.55% success rate. Straton covers the Consumer Cyclical sector, focusing on stocks such as Urban Outfitters, Tapestry, and Macy’s.

The word on The Street in general, suggests a Hold analyst consensus rating for Macy’s with a $22.33 average price target.

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Based on Macy’s’ latest earnings release for the quarter ending May 2, the company reported a quarterly revenue of $4.89 billion and a net profit of $63 million. In comparison, last year the company earned a revenue of $4.79 billion and had a net profit of $38 million

Based on the recent corporate insider activity of 30 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. Last month, Paul Griscom, the SVP & Controller of M sold 10,077.00 shares for a total of $258,273.51.

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