BidaskClub upgraded shares of Michaels Companies (NASDAQ:MIK) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday morning.
Other research analysts have also issued research reports about the stock. Credit Suisse Group restated a buy rating on shares of Michaels Companies in a research note on Thursday, August 9th. ValuEngine lowered shares of Michaels Companies from a sell rating to a strong sell rating in a research note on Thursday, August 2nd. Zacks Investment Research lowered shares of Michaels Companies from a buy rating to a hold rating in a research note on Tuesday, September 4th. Morgan Stanley dropped their price target on shares of Michaels Companies from $23.00 to $20.00 and set an overweight rating on the stock in a research note on Thursday, October 11th. Finally, Deutsche Bank dropped their price target on shares of Michaels Companies from $21.00 to $19.00 and set a hold rating on the stock in a research note on Friday, August 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Michaels Companies currently has a consensus rating of Hold and an average price target of $22.22.
MIK stock traded down $0.05 during midday trading on Wednesday, reaching $17.72. The company had a trading volume of 2,027,415 shares, compared to its average volume of 2,309,303. Michaels Companies has a 1 year low of $14.82 and a 1 year high of $27.87. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 0.96 and a beta of 1.03.
Michaels Companies (NASDAQ:MIK) last released its earnings results on Thursday, August 30th. The specialty retailer reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Michaels Companies had a net margin of 6.31% and a negative return on equity of 24.56%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the firm earned $0.19 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. As a group, analysts expect that Michaels Companies will post 2.37 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Mutual of America Capital Management LLC grew its stake in Michaels Companies by 4.6% in the 2nd quarter. Mutual of America Capital Management LLC now owns 95,902 shares of the specialty retailer’s stock valued at $1,838,000 after buying an additional 4,180 shares during the last quarter. Pegasus Partners Ltd. boosted its holdings in Michaels Companies by 1.9% in the 2nd quarter. Pegasus Partners Ltd. now owns 228,832 shares of the specialty retailer’s stock valued at $4,387,000 after purchasing an additional 4,191 shares during the period. Dupont Capital Management Corp boosted its holdings in Michaels Companies by 12.6% in the 2nd quarter. Dupont Capital Management Corp now owns 37,704 shares of the specialty retailer’s stock valued at $723,000 after purchasing an additional 4,209 shares during the period. D.A. Davidson & CO. boosted its holdings in Michaels Companies by 34.1% in the 2nd quarter. D.A. Davidson & CO. now owns 17,841 shares of the specialty retailer’s stock valued at $342,000 after purchasing an additional 4,537 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in Michaels Companies by 26.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 21,700 shares of the specialty retailer’s stock valued at $416,000 after purchasing an additional 4,563 shares during the period.
About Michaels Companies
The Michaels Companies, Inc owns and operates arts and crafts specialty retail stores for Makers and do-it-yourself home decorators in North America. It operates Michaels stores that offer approximately 45,000 stock-keeping units (SKUs) in crafts, home decor and seasonal, framing, and paper crafting; and Aaron Brothers stores, which offer approximately 5,600 SKUs, including photo frames, a line of ready-made frames, art prints, framed art, art supplies, and custom framing services.
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