Michaels Companies Stock Rating Reaffirmed by Macquarie (MIK)
Michaels Companies (NYSE:MIK)‘s stock had its “neutral” rating reiterated by investment analysts at Macquarie in a note issued to investors on Thursday. They currently have a $17.00 target price on the stock, up from their previous target price of $16.00. Macquarie’s target price points to a potential upside of 2.78% from the company’s current price.
MIK has been the subject of a number of other recent research reports. Analysts at SunTrust reiterated a “buy” rating on shares of Michaels Companies in a research note on Thursday. They now have a $22.00 price target on the stock, up previously from $20.00. Separately, analysts at Telsey Advisory Group initiated coverage on shares of Michaels Companies in a research note on Wednesday, August 6th. They set a “not rated” rating and a $18.00 price target on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Michaels Companies in a research note on Wednesday, August 6th. They set an “equal weight” rating and a $16.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $19.23.
Shares of Michaels Companies (NYSE:MIK) traded up 1.57% on Thursday, hitting $16.80. 421,180 shares of the company’s stock traded hands. Michaels Companies has a one year low of $14.51 and a one year high of $17.28. The stock’s 50-day moving average is $15.74 and its 200-day moving average is $15.93. The company has a market cap of $3.412 billion and a price-to-earnings ratio of 13.98.
Michaels Companies (NYSE:MIK) last announced its earnings results on Wednesday, August 27th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.08 by $0.07. The company had revenue of $948.00 million for the quarter, compared to the consensus estimate of $943.00 million. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts expect that Michaels Companies will post $1.41 EPS for the current fiscal year.
The Michaels Companies, Inc is an arts and crafts specialty retailer in North America. The Company also operates a vertically integrated custom framing business.
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