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

A number of other research firms have also commented on MIK. Bank of America reiterated a “buy” rating and set a $29.00 price target on shares of Michaels Companies in a report on Tuesday, September 5th. ValuEngine lowered shares of Michaels Companies from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Deutsche Bank lowered shares of Michaels Companies from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a report on Tuesday, December 12th. Raymond James Financial reiterated a “hold” rating on shares of Michaels Companies in a report on Saturday, December 2nd. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $18.00 price target on shares of Michaels Companies in a report on Friday, September 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.63.

Shares of Michaels Companies (NASDAQ:MIK) opened at $23.76 on Wednesday. The firm has a market cap of $4,310.00, a P/E ratio of 12.06, a PEG ratio of 1.06 and a beta of 0.92. The company has a quick ratio of 0.25, a current ratio of 1.39 and a debt-to-equity ratio of -1.56. Michaels Companies has a 1-year low of $17.25 and a 1-year high of $24.24.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings results on Thursday, November 30th. The specialty retailer reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. research analysts predict that Michaels Companies will post 2.16 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of MIK. Parametric Portfolio Associates LLC grew its position in shares of Michaels Companies by 966.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 572,700 shares of the specialty retailer’s stock worth $12,296,000 after buying an additional 518,984 shares during the period. GSA Capital Partners LLP grew its position in shares of Michaels Companies by 12.4% in the 3rd quarter. GSA Capital Partners LLP now owns 53,046 shares of the specialty retailer’s stock worth $1,139,000 after buying an additional 5,842 shares during the period. Sterling Capital Management LLC purchased a new stake in shares of Michaels Companies in the 3rd quarter worth about $896,000. California Public Employees Retirement System grew its position in shares of Michaels Companies by 36.2% in the 3rd quarter. California Public Employees Retirement System now owns 135,090 shares of the specialty retailer’s stock worth $2,900,000 after buying an additional 35,890 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Michaels Companies in the 3rd quarter worth about $641,000.

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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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