Michaels Companies (NASDAQ:MIK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “The Michaels Companies, Inc. is a specialty retailer of arts and crafts. The Company’s stores offer stock-keeping units in arts, crafts, scrapbooking, floral, framing, home décor, seasonal offerings, and children’s hobbies. It produces 11 exclusive private brands including Recollections(R), Studio Decor(R), Bead Landing(R), Creatology(R), Ashland(R), Celebrate It(R), Art Minds(R), Artist’s Loft(R), Craft Smart(R), Loops & Threads(R) and Imagin8(R). The Michaels Companies, Inc. is based in Irving, Texas. “

Other equities analysts also recently issued reports about the company. Piper Jaffray Companies restated a “hold” rating and issued a $18.00 target price on shares of Michaels Companies in a research note on Friday, September 29th. BidaskClub cut Michaels Companies from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Raymond James Financial reissued a “hold” rating on shares of Michaels Companies in a report on Saturday, December 2nd. ValuEngine raised Michaels Companies from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Finally, Bank of America reissued a “buy” rating and set a $29.00 target price on shares of Michaels Companies in a report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $23.43.

Michaels Companies (NASDAQ:MIK) traded up $0.20 during mid-day trading on Tuesday, hitting $22.20. The stock had a trading volume of 2,738,757 shares, compared to its average volume of 2,808,096. Michaels Companies has a 1-year low of $17.25 and a 1-year high of $24.24. The company has a quick ratio of 0.25, a current ratio of 1.39 and a debt-to-equity ratio of -1.56. The firm has a market capitalization of $4,023.73, a PE ratio of 11.27, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92.

Michaels Companies (NASDAQ:MIK) last issued its earnings results on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.26 billion. Michaels Companies had a negative return on equity of 22.16% and a net margin of 7.33%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS. sell-side analysts forecast that Michaels Companies will post 2.16 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. increased its stake in Michaels Companies by 52.1% in the second quarter. Alliancebernstein L.P. now owns 6,090,904 shares of the specialty retailer’s stock valued at $112,804,000 after acquiring an additional 2,086,817 shares during the period. State Street Corp grew its stake in shares of Michaels Companies by 15.5% during the second quarter. State Street Corp now owns 5,872,512 shares of the specialty retailer’s stock valued at $108,763,000 after purchasing an additional 787,225 shares during the last quarter. Freestone Capital Holdings LLC grew its stake in shares of Michaels Companies by 2,260.8% during the second quarter. Freestone Capital Holdings LLC now owns 639,903 shares of the specialty retailer’s stock valued at $11,851,000 after purchasing an additional 612,798 shares during the last quarter. BlackRock Inc. grew its stake in shares of Michaels Companies by 7.1% during the second quarter. BlackRock Inc. now owns 8,752,674 shares of the specialty retailer’s stock valued at $162,099,000 after purchasing an additional 583,585 shares during the last quarter. Finally, Sapience Investments LLC grew its stake in shares of Michaels Companies by 70.9% during the second quarter. Sapience Investments LLC now owns 1,171,775 shares of the specialty retailer’s stock valued at $21,701,000 after purchasing an additional 486,295 shares during the last quarter.

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About Michaels Companies

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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