Shares of The Michaels Companies, Inc. (NASDAQ:MIK) have been given an average rating of “Hold” by the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $25.33.
A number of analysts have recently issued reports on the company. BidaskClub upgraded The Michaels Companies from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Piper Jaffray Companies reiterated a “hold” rating and issued a $18.00 price target on shares of The Michaels Companies in a research report on Friday, September 29th. Zacks Investment Research upgraded The Michaels Companies from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $29.00 price target on shares of The Michaels Companies in a research report on Tuesday, September 5th.
A number of institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP boosted its stake in The Michaels Companies by 12.4% in the third quarter. GSA Capital Partners LLP now owns 53,046 shares of the specialty retailer’s stock worth $1,139,000 after purchasing an additional 5,842 shares in the last quarter. Sterling Capital Management LLC acquired a new position in The Michaels Companies in the third quarter worth $896,000. California Public Employees Retirement System boosted its stake in The Michaels Companies by 36.2% in the third quarter. California Public Employees Retirement System now owns 135,090 shares of the specialty retailer’s stock worth $2,900,000 after purchasing an additional 35,890 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in The Michaels Companies in the third quarter worth $641,000. Finally, Cubist Systematic Strategies LLC boosted its stake in The Michaels Companies by 70.1% in the third quarter. Cubist Systematic Strategies LLC now owns 38,254 shares of the specialty retailer’s stock worth $821,000 after purchasing an additional 15,769 shares in the last quarter.
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The Michaels Companies (MIK) traded down $0.18 on Thursday, hitting $19.06. The stock had a trading volume of 2,245,200 shares, compared to its average volume of 2,141,427. The company has a market capitalization of $3,450.00, a PE ratio of 9.97, a PEG ratio of 0.87 and a beta of 0.86. The company has a current ratio of 1.44, a quick ratio of 0.26 and a debt-to-equity ratio of -1.53. The Michaels Companies has a 1-year low of $17.25 and a 1-year high of $25.57.
The Michaels Companies (NASDAQ:MIK) last released its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. The Michaels Companies had a negative return on equity of 22.53% and a net margin of 7.29%. The Michaels Companies’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. analysts anticipate that The Michaels Companies will post 2.14 earnings per share for the current year.
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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