Macy’s (M) Received its Third Sell in a Row

After Morgan Stanley and Merrill Lynch gave Macy’s (NYSE: M) a Sell rating last month, the company received another Sell, this time from Credit Suisse. Analyst Michael Binetti maintained a Sell rating on Macy’s yesterday and set a price target of $4.50. The company’s shares closed last Friday at $5.17, close to its 52-week low of $4.38.

According to, Binetti is a 4-star analyst with an average return of 6.3% and a 54.4% success rate. Binetti covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, J. C. Penney Company, and Lululemon Athletica.

Macy’s has an analyst consensus of Moderate Sell, with a price target consensus of $4.89, representing a -8.1% downside. In a report released today, Merrill Lynch also reiterated a Sell rating on the stock with a $4.50 price target.

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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 32.4M.

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.

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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.

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