Michaels Companies (MIK) Upgraded to Buy at BidaskClub

Michaels Companies (NASDAQ:MIK) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Other equities analysts have also issued reports about the company. ValuEngine raised Michaels Companies from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Goldman Sachs Group upgraded Michaels Companies from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th. Zacks Investment Research upgraded Michaels Companies from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Wednesday, November 29th. Deutsche Bank downgraded Michaels Companies from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research report on Tuesday, December 12th. Finally, Raymond James Financial restated a “hold” rating on shares of Michaels Companies in a research report on Saturday, December 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $25.00.

Shares of Michaels Companies (NASDAQ:MIK) traded up $0.62 during mid-day trading on Wednesday, reaching $27.78. The company had a trading volume of 1,830,626 shares, compared to its average volume of 1,539,306. Michaels Companies has a 1-year low of $17.25 and a 1-year high of $27.86. The company has a market cap of $4,922.71, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.04 and a beta of 0.92. The company has a debt-to-equity ratio of -1.56, a current ratio of 1.39 and a quick ratio of 0.25.

Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings data on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Michaels Companies had a negative return on equity of 22.16% and a net margin of 7.33%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company posted $0.40 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. sell-side analysts forecast that Michaels Companies will post 2.17 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Suntrust Banks Inc. lifted its position in Michaels Companies by 3.0% in the second quarter. Suntrust Banks Inc. now owns 12,680 shares of the specialty retailer’s stock worth $234,000 after purchasing an additional 368 shares during the period. People s United Financial Inc. lifted its position in Michaels Companies by 5.5% in the second quarter. People s United Financial Inc. now owns 17,323 shares of the specialty retailer’s stock worth $321,000 after purchasing an additional 904 shares during the period. Thrivent Financial For Lutherans lifted its position in shares of Michaels Companies by 5.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 21,120 shares of the specialty retailer’s stock valued at $391,000 after acquiring an additional 1,080 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Michaels Companies by 3.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 87,132 shares of the specialty retailer’s stock valued at $1,614,000 after acquiring an additional 3,296 shares during the last quarter. Finally, Pinebridge Investments L.P. lifted its position in shares of Michaels Companies by 54.6% during the 3rd quarter. Pinebridge Investments L.P. now owns 10,360 shares of the specialty retailer’s stock valued at $222,000 after acquiring an additional 3,660 shares during the last quarter.

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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.

Analyst Recommendations for Michaels Companies (NASDAQ:MIK)

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