The Michaels Companies, Inc. (NASDAQ:MIK) was downgraded by equities researchers at Piper Jaffray Companies from a “neutral” rating to an “underweight” rating in a note issued to investors on Friday, October 27th, Marketbeat.com reports.
A number of other research firms have also recently weighed in on MIK. BidaskClub raised The Michaels Companies from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Zacks Investment Research upgraded The Michaels Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. J P Morgan Chase & Co upgraded The Michaels Companies from a “neutral” rating to an “overweight” rating and set a $23.00 target price on the stock in a report on Monday, July 24th. Bank of America Corporation restated a “buy” rating and set a $29.00 target price on shares of The Michaels Companies in a report on Tuesday, September 5th. Finally, ValuEngine cut The Michaels Companies from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $24.29.
The Michaels Companies (MIK) traded up $0.01 during mid-day trading on Friday, hitting $18.57. The stock had a trading volume of 1,261,600 shares, compared to its average volume of 2,142,959. The stock has a market capitalization of $3,359.10, a PE ratio of 9.62, a P/E/G ratio of 0.84 and a beta of 0.86. The company has a quick ratio of 0.26, a current ratio of 1.44 and a debt-to-equity ratio of -1.53. The Michaels Companies has a 52-week low of $17.25 and a 52-week high of $25.57.
The Michaels Companies (NASDAQ:MIK) last released its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The Michaels Companies had a negative return on equity of 22.53% and a net margin of 7.29%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company posted $0.17 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. analysts expect that The Michaels Companies will post 2.14 EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Suntrust Banks Inc. lifted its position in The Michaels Companies by 3.0% in the second quarter. Suntrust Banks Inc. now owns 12,680 shares of the specialty retailer’s stock valued at $234,000 after purchasing an additional 368 shares during the period. Pacer Advisors Inc. lifted its position in The Michaels Companies by 5.0% in the second quarter. Pacer Advisors Inc. now owns 8,028 shares of the specialty retailer’s stock valued at $149,000 after purchasing an additional 383 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in The Michaels Companies by 11.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,556 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 549 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in The Michaels Companies by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 27,600 shares of the specialty retailer’s stock valued at $511,000 after buying an additional 800 shares in the last quarter. Finally, People s United Financial Inc. increased its holdings in The Michaels Companies by 5.5% in the second quarter. People s United Financial Inc. now owns 17,323 shares of the specialty retailer’s stock valued at $321,000 after buying an additional 904 shares in the last quarter. Institutional investors own 98.41% of the company’s stock.
The Michaels Companies Company Profile
The Michaels Companies, Inc (Michaels) is an arts and crafts specialty retailer in North America. The Company’s segments include Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s and Darice. As of January 28, 2017, the Company operated 1,223 Michaels retail stores in 49 states and Canada, with approximately 18,000 average square feet of selling space per store.
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