NEW YORK (TheStreet) -- Shares of Macy's Inc  (M - Get Report) closed down 0.8% to $63.22 on heavy volume in Thursday's regular trading session, after the department store had its rating lowered at Telsey Advisory this morning.

Analysts at the firm downgraded the company to "market perform" from "outperform," and issued a 12-month price target of $72.

Telsey Advisory analysts noted that they see lower margins and sales for the retailer.

Macy's reported its first quarter earnings results before the opening bell on Wednesday.

About 11.67 million shares exchanged hands as of 4:02 p.m. ET, compared to its average daily volume of about 4.7 million shares. 

Cincinnati, Ohio-based Macy's is an omni-channel retail company operating stores and Internet websites under the brands Macy's and Bloomingdale's.

Separately, TheStreet Ratings team rates MACY'S INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate MACY'S INC (M) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, solid stock price performance, growth in earnings per share and expanding profit margins. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

You can view the full analysis from the report here: M Ratings Report

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