Macys Inc (M) : Traders are bullish on Macys Inc (M) as it has outperformed the S&P 500 by a wide margin of 13.79% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.24%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.21% in the last 1 week, and is up 14.23% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Macys, Inc. is up 30.28% in the last 3-month period. Year-to-Date the stock performance stands at 17.49%. The stock has recorded a 20-day Moving Average of 10.52% and the 50-Day Moving Average is 16.1%.
Macys Inc (NYSE:M): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $40.10 and $39.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $40.42. The buying momentum continued till the end and the stock did not give up its gains. It closed at $40.30, notching a gain of 0.12% for the day. The total traded volume was 4,863,516 . The stock had closed at $40.25 on the previous day.
Also, Citigroup maintains its rating on Macys Inc (NYSE:M). The global brokerage major raises the current price target from $30 per share to $44 per share. Analysts at the Citigroup have a current rating of Neutral on the shares. The rating by the firm was issued on August 12, 2016.
Macys, Inc. is an omnichannel retail company operating stores, Websites (macys.com, bloomingdales.com and bluemercury.com) and mobile. As of January 31, 2015, the operations of the Company included 823 stores with an area of approximately 147,400,000 square feet in 45 states of the United States, the District of Columbia, Guam and Puerto Rico. Of these 823 stores, 447 were owned, 267 were leased and 109 stores were operated under arrangements where the Company owned the building and leased the land. The Company operates its stores under the names of Macys, Bloomingdales, Bloomingdales Outlet and Bluemercury. The Company operates 13 Bloomingdales outlet stores. Bloomingdales in Dubai, the United Arab Emirates is operated under a license agreement with Al Tayer Insignia, a company of Al Tayer Group, LLC.