Michaels Companies (NASDAQ:MIK) has been assigned a $18.00 price objective by equities researchers at Loop Capital in a report released on Thursday. The firm presently has a “hold” rating on the specialty retailer’s stock. Loop Capital’s price objective would indicate a potential upside of 12.85% from the stock’s previous close.

Several other analysts have also recently weighed in on MIK. Credit Suisse Group reiterated a “buy” rating on shares of Michaels Companies in a report on Thursday, August 9th. ValuEngine upgraded shares of Michaels Companies from a “strong sell” rating to a “sell” rating in a report on Monday, August 20th. BidaskClub lowered Michaels Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. Wells Fargo & Co reissued a “hold” rating and set a $19.00 price objective (down previously from $20.00) on shares of Michaels Companies in a research report on Thursday, August 30th. Finally, Deutsche Bank lowered their price objective on Michaels Companies from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, August 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.89.

NASDAQ:MIK traded down $0.47 during trading hours on Thursday, hitting $15.95. The company had a trading volume of 1,593,253 shares, compared to its average volume of 2,031,083. The stock has a market cap of $2.81 billion, a P/E ratio of 7.35, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. Michaels Companies has a 52 week low of $14.82 and a 52 week high of $27.87.

Michaels Companies (NASDAQ:MIK) last released its quarterly earnings results on Thursday, December 6th. The specialty retailer reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.04. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Michaels Companies had a net margin of 6.31% and a negative return on equity of 24.56%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. Analysts predict that Michaels Companies will post 2.35 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new position in Michaels Companies during the second quarter valued at $170,000. We Are One Seven LLC purchased a new position in shares of Michaels Companies in the 3rd quarter worth about $180,000. State of Alaska Department of Revenue raised its position in shares of Michaels Companies by 138.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,642 shares of the specialty retailer’s stock worth $187,000 after purchasing an additional 6,762 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Michaels Companies in the 3rd quarter worth about $195,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Michaels Companies in the 2nd quarter worth about $321,000.

About Michaels Companies

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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Analyst Recommendations for Michaels Companies (NASDAQ:MIK)

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