Michaels Companies Inc (NASDAQ:MIK) has been assigned a consensus rating of “Hold” from the thirteen research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $20.43.
MIK has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Michaels Companies from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Morgan Stanley lowered their target price on shares of Michaels Companies from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, October 11th. ValuEngine upgraded shares of Michaels Companies from a “strong sell” rating to a “sell” rating in a report on Monday, August 20th. BidaskClub upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a report on Saturday, October 13th. Finally, Deutsche Bank lowered their target price on shares of Michaels Companies from $21.00 to $19.00 and set a “hold” rating for the company in a report on Friday, August 31st.
Institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. grew its stake in Michaels Companies by 13.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 659,448 shares of the specialty retailer’s stock worth $12,642,000 after buying an additional 76,319 shares during the period. Bank of New York Mellon Corp grew its stake in Michaels Companies by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 1,748,896 shares of the specialty retailer’s stock worth $33,526,000 after buying an additional 26,109 shares during the period. Seven Eight Capital LP purchased a new stake in Michaels Companies during the third quarter worth approximately $4,702,000. BlackRock Inc. grew its stake in Michaels Companies by 0.9% during the second quarter. BlackRock Inc. now owns 9,456,390 shares of the specialty retailer’s stock worth $181,279,000 after buying an additional 85,558 shares during the period. Finally, Clearline Capital LP purchased a new stake in Michaels Companies during the second quarter worth approximately $2,730,000.
Shares of NASDAQ MIK traded down $1.00 during midday trading on Monday, reaching $15.42. 65,137 shares of the stock were exchanged, compared to its average volume of 2,031,083. The company has a market cap of $2.81 billion, a PE ratio of 7.24, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. Michaels Companies has a 52-week low of $14.82 and a 52-week high of $27.87.
Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings results on Thursday, December 6th. The specialty retailer reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Michaels Companies had a net margin of 6.31% and a negative return on equity of 24.56%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. As a group, analysts expect that Michaels Companies will post 2.35 EPS for the current fiscal year.
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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