The Michaels Companies, Inc. (NASDAQ:MIK) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Tuesday.

Other research analysts have also recently issued reports about the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 target price on shares of The Michaels Companies in a report on Tuesday. Zacks Investment Research cut shares of The Michaels Companies from a “buy” rating to a “hold” rating in a report on Friday. Telsey Advisory Group lowered their target price on shares of The Michaels Companies from $24.00 to $21.00 and set a “market perform” rating on the stock in a report on Wednesday, June 7th. ValuEngine cut shares of The Michaels Companies from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Piper Jaffray Companies cut shares of The Michaels Companies from an “overweight” rating to a “neutral” rating in a report on Monday, March 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $27.33.

Analyst Recommendations for The Michaels Companies (NASDAQ:MIK)

The Michaels Companies (MIK) traded up 0.16% during midday trading on Tuesday, reaching $18.53. The company’s stock had a trading volume of 1,495,304 shares. The firm has a 50 day moving average price of $20.68 and a 200-day moving average price of $21.43. The firm has a market cap of $3.50 billion, a P/E ratio of 9.90 and a beta of 0.93. The Michaels Companies has a 52 week low of $17.39 and a 52 week high of $29.75.

The Michaels Companies (NASDAQ:MIK) last announced its earnings results on Tuesday, June 6th. The specialty retailer reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The Michaels Companies had a negative return on equity of 22.75% and a net margin of 7.30%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business posted $0.36 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts forecast that The Michaels Companies will post $2.07 earnings per share for the current fiscal year.

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A number of hedge funds have recently modified their holdings of the stock. Highfields Capital Management LP raised its stake in shares of The Michaels Companies by 5.4% in the fourth quarter. Highfields Capital Management LP now owns 11,655,875 shares of the specialty retailer’s stock worth $238,363,000 after buying an additional 600,902 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of The Michaels Companies by 6.9% in the first quarter. Vanguard Group Inc. now owns 9,477,211 shares of the specialty retailer’s stock worth $212,194,000 after buying an additional 615,723 shares in the last quarter. BlackRock Inc. raised its stake in shares of The Michaels Companies by 44,112.2% in the first quarter. BlackRock Inc. now owns 8,169,089 shares of the specialty retailer’s stock worth $182,908,000 after buying an additional 8,150,612 shares in the last quarter. State Street Corp raised its stake in shares of The Michaels Companies by 86.7% in the first quarter. State Street Corp now owns 5,085,287 shares of the specialty retailer’s stock worth $113,853,000 after buying an additional 2,361,331 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of The Michaels Companies during the first quarter worth $94,934,000. Hedge funds and other institutional investors own 98.67% of the company’s stock.

The 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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