Macy's, Inc. ( M ) was a big mover last session, as the company saw its shares rise nearly 8% on the day. The upside came after activist investor Starboard Value LP announced that it has acquired a stake in Macy's. The news led to far more shares changing hands than in a normal session, breaking the recent trend of the company, as the stock is now trading above the volatile price range of $65.78 to $70.64 over the past one-month time frame
The stock has witnessed two downward estimate revisions in the past 30 days. The Zacks Consensus Estimate has also moved down over same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent move higher lasts.
Macy's carries a Zacks Rank #4 (Sell), while its Earnings ESP is negative.
A better-ranked stock in the retail-rgn dept industry is J. C. Penney Company, Inc. ( JCP ), sporting a Zacks Rank #1 (Strong Buy).