Michaels Companies (NASDAQ:MIK) was downgraded by investment analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a report issued on Tuesday, MarketBeat Ratings reports. They presently have a $25.00 price target on the specialty retailer’s stock. Deutsche Bank’s target price suggests a potential upside of 14.47% from the company’s current price.
MIK has been the subject of a number of other reports. BidaskClub upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Zacks Investment Research cut shares of Michaels Companies from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. ValuEngine upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Piper Jaffray Companies cut shares of Michaels Companies from a “neutral” rating to an “underweight” rating in a report on Friday, October 27th. Finally, Raymond James Financial restated a “hold” rating on shares of Michaels Companies in a report on Saturday, December 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Michaels Companies presently has an average rating of “Hold” and an average price target of $23.63.
Michaels Companies (MIK) traded up $0.27 during trading on Tuesday, hitting $21.84. 3,500,000 shares of the stock traded hands, compared to its average volume of 2,560,000. 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 company has a market capitalization of $3,960.00, a PE ratio of 11.09, a PEG ratio of 0.98 and a beta of 0.92. Michaels Companies has a twelve month low of $17.25 and a twelve month high of $24.24.
Several large investors have recently modified their holdings of MIK. Mckinley Capital Management LLC Delaware purchased a new stake in Michaels Companies in the 2nd quarter worth approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Michaels Companies by 11.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,556 shares of the specialty retailer’s stock worth $103,000 after buying an additional 549 shares in the last quarter. Pinebridge Investments L.P. purchased a new stake in Michaels Companies in the 2nd quarter worth approximately $124,000. Pacer Advisors Inc. lifted its position in Michaels Companies by 5.0% in the 2nd quarter. Pacer Advisors Inc. now owns 8,028 shares of the specialty retailer’s stock worth $149,000 after buying an additional 383 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Michaels Companies in the 3rd quarter worth approximately $211,000.
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.
