BidaskClub upgraded shares of Michaels Companies (NASDAQ:MIK) from a hold rating to a buy rating in a research note issued to investors on Wednesday, December 27th.
MIK has been the subject of several other research reports. Zacks Investment Research upgraded shares of Michaels Companies from a sell rating to a hold rating in a research note on Thursday, November 2nd. Piper Jaffray Companies cut shares of Michaels Companies from a neutral rating to an underweight rating in a research note on Friday, October 27th. ValuEngine lowered shares of Michaels Companies from a buy rating to a hold rating in a research report on Friday, September 1st. Deutsche Bank lowered shares of Michaels Companies from a buy rating to a hold rating and set a $25.00 price target for the company. in a research report on Tuesday, December 12th. Finally, Bank of America reaffirmed a buy rating and set a $29.00 price objective on shares of Michaels Companies in a report on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $23.63.
Michaels Companies (MIK) opened at $24.78 on Wednesday. Michaels Companies has a one year low of $17.25 and a one year high of $25.00. The company has a quick ratio of 0.25, a current ratio of 1.39 and a debt-to-equity ratio of -1.56. The firm has a market cap of $4,490.00, a price-to-earnings ratio of 12.58, a PEG ratio of 1.10 and a beta of 0.92.
Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings data on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. Michaels Companies had a net margin of 7.33% and a negative return on equity of 22.16%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the company posted $0.40 earnings per share. Michaels Companies’s revenue for the quarter was up 1.1% on a year-over-year basis. research analysts predict that Michaels Companies will post 2.16 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the business. Parametric Portfolio Associates LLC boosted its position in shares of Michaels Companies by 966.2% during the third quarter. Parametric Portfolio Associates LLC now owns 572,700 shares of the specialty retailer’s stock worth $12,296,000 after purchasing an additional 518,984 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Michaels Companies by 386.6% during the third quarter. Canada Pension Plan Investment Board now owns 98,300 shares of the specialty retailer’s stock worth $2,111,000 after acquiring an additional 78,100 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Michaels Companies by 52.1% during the second quarter. Alliancebernstein L.P. now owns 6,090,904 shares of the specialty retailer’s stock worth $112,804,000 after acquiring an additional 2,086,817 shares during the period. BlackRock Inc. raised its holdings in shares of Michaels Companies by 7.1% during the second quarter. BlackRock Inc. now owns 8,752,674 shares of the specialty retailer’s stock worth $162,099,000 after acquiring an additional 583,585 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Michaels Companies by 12.2% during the second quarter. Rhumbline Advisers now owns 204,645 shares of the specialty retailer’s stock worth $3,790,000 after acquiring an additional 22,190 shares during the period.
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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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