Shares of The Michaels Companies, Inc. (NASDAQ:MIK) have earned a consensus recommendation of “Hold” from the eight analysts that are covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $17.17.
Several research analysts recently commented on the company. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $15.00 price target on shares of The Michaels Companies in a research note on Sunday, March 14th. Morgan Stanley raised The Michaels Companies from an “underweight” rating to an “equal weight” rating and set a $22.00 price objective for the company in a report on Wednesday, March 10th. Loop Capital reissued a “hold” rating and issued a $22.00 price objective (down from $25.00) on shares of The Michaels Companies in a report on Thursday, March 11th. Finally, Zacks Investment Research raised The Michaels Companies from a “sell” rating to a “hold” rating and set a $20.00 price objective for the company in a report on Wednesday, March 3rd.
Several large investors have recently bought and sold shares of MIK. Rothschild & Co. Asset Management US Inc. grew its holdings in The Michaels Companies by 317.9% in the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 2,419,539 shares of the specialty retailer’s stock worth $31,478,000 after buying an additional 1,840,567 shares in the last quarter. Norges Bank bought a new position in The Michaels Companies in the 4th quarter worth approximately $13,700,000. Arrowstreet Capital Limited Partnership bought a new position in The Michaels Companies in the 3rd quarter worth approximately $9,839,000. Voloridge Investment Management LLC grew its holdings in The Michaels Companies by 236.0% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,160,198 shares of the specialty retailer’s stock worth $11,202,000 after buying an additional 814,918 shares in the last quarter. Finally, SummerHaven Investment Management LLC bought a new position in The Michaels Companies in the 4th quarter worth approximately $790,000.
Shares of NASDAQ:MIK traded up $0.01 during trading on Thursday, hitting $21.97. The company’s stock had a trading volume of 2,828,553 shares, compared to its average volume of 5,769,790. The Michaels Companies has a fifty-two week low of $1.86 and a fifty-two week high of $22.42. The stock’s 50-day moving average price is $19.92 and its two-hundred day moving average price is $13.78. The company has a market capitalization of $3.12 billion, a PE ratio of 14.64 and a beta of 3.18.
The Michaels Companies (NASDAQ:MIK) last released its quarterly earnings results on Wednesday, March 3rd. The specialty retailer reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.12. The Michaels Companies had a negative return on equity of 20.17% and a net margin of 4.36%. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. The company’s revenue was up 11.3% compared to the same quarter last year. Equities research analysts forecast that The Michaels Companies will post 2.22 EPS for the current year.
About The Michaels Companies
The Michaels Companies, Inc owns and operates arts and crafts specialty retail stores for hobbyist and do-it-yourself home decorators in the United States and Canada. It operates Michaels stores that offer approximately 45,000 basic and seasonal stock-keeping units (SKUs) in arts, crafts, framing, floral, and home dÃ©cor and seasonal merchandise.
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