Michaels Companies’s Buy Rating Reaffirmed at SunTrust (MIK)
Michaels Companies (NYSE:MIK)‘s stock had its “buy” rating reissued by analysts at SunTrust in a research report issued to clients and investors on Thursday. They currently have a $22.00 price objective on the stock, up from their previous price objective of $20.00. SunTrust’s target price would suggest a potential upside of 33.01% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Macquarie initiated coverage on shares of Michaels Companies in a research note on Thursday, August 7th. They set a “neutral” rating and a $16.00 price target on the stock. 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 research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $19.23.
Shares of Michaels Companies (NYSE:MIK) traded up 2.06% on Thursday, hitting $16.88. The stock had a trading volume of 559,538 shares. Michaels Companies has a 1-year low of $14.51 and a 1-year high of $17.28. The stock has a 50-day moving average of $15.74 and a 200-day moving average of $15.93. The company has a market cap of $3.428 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. Michaels Companies’s revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that Michaels Companies will post $1.41 earnings per share 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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