Goldman Sachs Keeps Their Buy Rating on Macy’s (M)

Goldman Sachs analyst Brooke Roach maintained a Buy rating on Macy’s (M – Research Report) yesterday. The company’s shares closed yesterday at $20.08.

Roach covers the Consumer Cyclical sector, focusing on stocks such as Gap, Macy’s, and Kontoor Brands. According to TipRanks, Roach has an average return of 2.3% and a 53.27% success rate on recommended stocks.

Currently, the analyst consensus on Macy’s is a Hold with an average price target of $19.07.

Based on Macy’s’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $8.38 billion and a GAAP net loss of $71 million. In comparison, last year the company earned a revenue of $8.58 billion and had a net profit of $508 million

Based on the recent corporate insider activity of 33 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 (M) Company Description:

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.