The Michaels Companies, Inc. (MIK) Upgraded by ValuEngine to Buy
The Michaels Companies, Inc. (NASDAQ:MIK) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
MIK has been the topic of a number of other reports. Zacks Investment Research downgraded The Michaels Companies from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub raised The Michaels Companies from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th. JPMorgan Chase & Co. raised The Michaels Companies from a “neutral” rating to an “overweight” rating and set a $23.00 price objective on the stock in a research note on Monday, July 24th. Bank of America Corporation reissued a “buy” rating and issued a $29.00 price objective on shares of The Michaels Companies in a research note on Tuesday, September 5th. Finally, Piper Jaffray Companies set a $18.00 price objective on The Michaels Companies and gave the company a “hold” rating in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The Michaels Companies currently has an average rating of “Hold” and a consensus price target of $24.29.
The Michaels Companies (NASDAQ:MIK) traded down 5.40% during mid-day trading on Friday, reaching $19.99. 6,337,098 shares of the company were exchanged. The Michaels Companies has a 12 month low of $17.25 and a 12 month high of $25.57. The stock’s 50-day moving average is $21.31 and its 200-day moving average is $20.55. The company has a market cap of $3.62 billion, a P/E ratio of 10.42 and a beta of 0.91.
The Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The Michaels Companies had a negative return on equity of 22.53% and a net margin of 7.29%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business earned $0.17 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. Equities analysts expect that The Michaels Companies will post $2.14 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in MIK. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in The Michaels Companies by 11.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,556 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 549 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in The Michaels Companies in the 2nd quarter valued at approximately $103,000. FNY Partners Fund LP acquired a new stake in The Michaels Companies in the 1st quarter valued at approximately $111,000. Pinebridge Investments L.P. acquired a new stake in The Michaels Companies in the 2nd quarter valued at approximately $124,000. Finally, Pacer Advisors Inc. grew its holdings in The Michaels Companies by 5.0% in the 2nd quarter. Pacer Advisors Inc. now owns 8,028 shares of the specialty retailer’s stock valued at $149,000 after buying an additional 383 shares during the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.
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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