Michaels Companies (MIK) Earns “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Michaels Companies (NASDAQ:MIK) in a research note released on Wednesday, MarketBeat.com reports. The firm currently has a $17.00 price target on the specialty retailer’s stock, down from their previous price target of $20.00.

A number of other analysts have also recently issued reports on MIK. Zacks Investment Research cut Michaels Companies from a buy rating to a hold rating in a report on Friday, February 1st. BidaskClub raised Michaels Companies from a hold rating to a buy rating in a report on Friday, March 1st. Loop Capital set a $18.00 price objective on Michaels Companies and gave the stock a hold rating in a report on Thursday, December 6th. Wells Fargo & Co reissued a hold rating and set a $17.00 price objective (down previously from $19.00) on shares of Michaels Companies in a report on Thursday, December 6th. Finally, Citigroup assumed coverage on Michaels Companies in a report on Thursday, December 20th. They set a market weight rating on the stock. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $16.30.

MIK stock opened at $11.26 on Wednesday. The firm has a market cap of $1.78 billion, a PE ratio of 4.58, a PEG ratio of 0.61 and a beta of 1.14. Michaels Companies has a fifty-two week low of $11.21 and a fifty-two week high of $22.15.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings results on Tuesday, March 19th. The specialty retailer reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.02. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.78 billion. Michaels Companies had a negative return on equity of 24.50% and a net margin of 6.06%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.19 EPS. On average, research analysts forecast that Michaels Companies will post 2.46 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in MIK. Oregon Public Employees Retirement Fund raised its holdings in shares of Michaels Companies by 1,108.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 525,907 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 482,395 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Michaels Companies in the 4th quarter valued at about $64,000. Advisor Group Inc. raised its holdings in shares of Michaels Companies by 128.3% in the 4th quarter. Advisor Group Inc. now owns 9,396 shares of the specialty retailer’s stock valued at $127,000 after acquiring an additional 5,280 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Michaels Companies in the 3rd quarter valued at about $195,000. Finally, We Are One Seven LLC raised its holdings in shares of Michaels Companies by 36.5% in the 4th quarter. We Are One Seven LLC now owns 15,165 shares of the specialty retailer’s stock valued at $205,000 after acquiring an additional 4,052 shares in the last quarter.

Michaels Companies Company Profile

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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Analyst Recommendations for Michaels Companies (NASDAQ:MIK)

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