The Michaels Companies, Inc. (NASDAQ:MIK) was downgraded by Piper Jaffray Companies from a “neutral” rating to an “underweight” rating in a report issued on Friday, October 27th, MarketBeat reports.
A number of other research firms also recently weighed in on MIK. Zacks Investment Research downgraded shares of The Michaels Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. BidaskClub cut shares of The Michaels Companies from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Bank of America Corporation restated a “buy” rating and set a $29.00 target price on shares of The Michaels Companies in a report on Tuesday, September 5th. ValuEngine lowered shares of The Michaels Companies from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, J P Morgan Chase & Co raised shares of The Michaels Companies from a “neutral” rating to an “overweight” rating and set a $23.00 price target on the stock in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The Michaels Companies has an average rating of “Hold” and a consensus price target of $24.29.
The Michaels Companies (NASDAQ MIK) traded up $0.01 during trading on Friday, hitting $18.57. 1,261,600 shares of the stock were exchanged, compared to its average volume of 2,142,959. The company has a market cap of $3,360.92, a P/E ratio of 9.62, a P/E/G ratio of 0.84 and a beta of 0.86. The Michaels Companies has a fifty-two week low of $17.25 and a fifty-two week high of $25.57. The company has a quick ratio of 0.26, a current ratio of 1.44 and a debt-to-equity ratio of -1.53.
The Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. The Michaels Companies had a net margin of 7.29% and a negative return on equity of 22.53%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the business posted $0.17 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. equities research analysts anticipate that The Michaels Companies will post 2.14 EPS for the current year.
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A number of institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of The Michaels Companies by 11.0% during the second 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 period. Mckinley Capital Management LLC Delaware bought a new position in shares of The Michaels Companies in the second quarter worth approximately $103,000. FNY Partners Fund LP bought a new position in shares of The Michaels Companies in the first quarter worth approximately $111,000. Pinebridge Investments L.P. bought a new position in shares of The Michaels Companies in the second quarter worth approximately $124,000. Finally, Pacer Advisors Inc. boosted its stake in The Michaels Companies by 5.0% in the second 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.
About The 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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