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Macy's (M) Surges: Stock Moves 11% Higher

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Macy's, Inc. (M - Free Report) was a big mover last session, as the company saw its shares rise nearly 11% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, trading within a volatile range of $17.53-$21.40 in the past one-month time frame, showed a sharp increase yesterday.

The move came after the company reported robust third-quarter fiscal 2017 earnings, and also reiterated its fiscal 2017 guidance despite sales miss.

The company has seen one negative estimate revisions in the past one month, while its Zacks Consensus Estimate for the current quarter has remained unchanged. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Macy's currently has a Zacks Rank #4 (Sell), while its Earnings ESP is negative.

A better-ranked stock in the Retail-Wholesale sector is Zumiez Inc. (ZUMZ - Free Report) , which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is M going up? Or down? Predict to see what others think: Up or Down

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