Shares of Michaels Companies Inc (NASDAQ:MIK) have received an average recommendation of “Hold” from the fourteen brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $20.43.
A number of brokerages recently issued reports on MIK. ValuEngine downgraded Michaels Companies from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 26th. BidaskClub upgraded Michaels Companies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Wells Fargo & Co restated a “hold” rating and issued a $19.00 price target (down from $20.00) on shares of Michaels Companies in a research note on Thursday, August 30th. Deutsche Bank dropped their price target on Michaels Companies from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Friday, August 31st. Finally, Morgan Stanley dropped their price target on Michaels Companies from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, October 11th.
Shares of NASDAQ:MIK traded up $0.21 during mid-day trading on Thursday, reaching $17.67. 96,297 shares of the company traded hands, compared to its average volume of 2,252,411. The company has a market cap of $2.95 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 0.95 and a beta of 1.03. Michaels Companies has a 52 week low of $14.82 and a 52 week high of $27.87.
Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings data on Thursday, August 30th. The specialty retailer reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. Michaels Companies had a negative return on equity of 24.56% and a net margin of 6.31%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. On average, research analysts predict that Michaels Companies will post 2.37 EPS for the current year.
A number of hedge funds have recently bought and sold shares of MIK. WP Advisors LLC purchased a new stake in shares of Michaels Companies during the 2nd quarter worth approximately $113,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Michaels Companies during the 2nd quarter worth approximately $170,000. We Are One Seven LLC purchased a new stake in shares of Michaels Companies during the 3rd quarter worth approximately $180,000. State of Alaska Department of Revenue raised its holdings in shares of Michaels Companies by 138.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 11,642 shares of the specialty retailer’s stock worth $187,000 after acquiring an additional 6,762 shares in the last quarter. Finally, Atria Investments LLC purchased a new stake in shares of Michaels Companies during the 2nd quarter worth approximately $256,000.
Michaels Companies Company Profile
The Michaels Companies, Inc owns and operates arts and crafts specialty retail stores for Makers and do-it-yourself home decorators in North America. It operates Michaels stores that offer approximately 45,000 stock-keeping units (SKUs) in crafts, home decor and seasonal, framing, and paper crafting; and Aaron Brothers stores, which offer approximately 5,600 SKUs, including photo frames, a line of ready-made frames, art prints, framed art, art supplies, and custom framing services.
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