Michaels Companies (MIK) Raised to “Sell” at ValuEngine

ValuEngine upgraded shares of Michaels Companies (NASDAQ:MIK) from a strong sell rating to a sell rating in a research report report published on Thursday.

A number of other brokerages also recently issued reports on MIK. JPMorgan Chase lowered their price target on Michaels Companies from $30.00 to $27.00 and set an overweight rating for the company in a research report on Friday, March 23rd. Zacks Investment Research downgraded Michaels Companies from a buy rating to a hold rating in a research report on Wednesday, March 21st. Loop Capital assumed coverage on Michaels Companies in a research report on Thursday, March 1st. They set a hold rating and a $25.00 target price for the company. Morgan Stanley decreased their target price on Michaels Companies from $28.00 to $25.00 and set an overweight rating for the company in a research report on Friday, March 23rd. Finally, Telsey Advisory Group reiterated an outperform rating and set a $26.00 target price (down from $32.00) on shares of Michaels Companies in a research report on Thursday, March 22nd. Four research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $24.27.

Michaels Companies opened at $18.96 on Thursday, Marketbeat.com reports. The firm has a market capitalization of $3.45 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 0.85 and a beta of 1.25. Michaels Companies has a fifty-two week low of $17.25 and a fifty-two week high of $27.87. The company has a quick ratio of 0.58, a current ratio of 1.75 and a debt-to-equity ratio of -1.79.

Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings results on Thursday, March 22nd. The specialty retailer reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Michaels Companies had a negative return on equity of 24.07% and a net margin of 7.28%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. analysts predict that Michaels Companies will post 2.34 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in MIK. Old Mutual Global Investors UK Ltd. raised its holdings in shares of Michaels Companies by 1,714.8% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 2,316,399 shares of the specialty retailer’s stock valued at $56,033,000 after acquiring an additional 2,188,757 shares in the last quarter. APG Asset Management N.V. raised its holdings in shares of Michaels Companies by 1,088.0% in the fourth quarter. APG Asset Management N.V. now owns 1,212,900 shares of the specialty retailer’s stock valued at $24,434,000 after acquiring an additional 1,110,800 shares in the last quarter. Tyvor Capital LLC bought a new stake in shares of Michaels Companies in the fourth quarter valued at about $17,759,000. Neuberger Berman Group LLC raised its holdings in shares of Michaels Companies by 3,274.4% in the first quarter. Neuberger Berman Group LLC now owns 754,646 shares of the specialty retailer’s stock valued at $14,874,000 after acquiring an additional 732,282 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of Michaels Companies by 1,610.6% in the first quarter. UBS Group AG now owns 725,483 shares of the specialty retailer’s stock valued at $14,299,000 after acquiring an additional 683,072 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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