Michaels Companies (MIK) Given Hold Rating at Raymond James Financial
A number of other research analysts have also weighed in on MIK. BidaskClub raised shares of Michaels Companies from a hold rating to a buy rating in a research report on Thursday, September 28th. Piper Jaffray Companies reissued a hold rating and set a $18.00 target price on shares of Michaels Companies in a research report on Friday, September 29th. Zacks Investment Research lowered shares of Michaels Companies from a hold rating to a sell rating in a research report on Wednesday, August 16th. Bank of America reissued a buy rating and set a $29.00 target price on shares of Michaels Companies in a research report on Tuesday, September 5th. Finally, ValuEngine lowered shares of Michaels Companies from a buy rating to a hold rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $24.00.
Shares of Michaels Companies (MIK) traded up $0.34 during trading hours on Friday, reaching $21.94. 3,950,000 shares of the company were exchanged, compared to its average volume of 2,340,865. The company has a market capitalization of $3,970.83, a PE ratio of 11.14, a PEG ratio of 0.99 and a beta of 0.91. Michaels Companies has a 12-month low of $17.25 and a 12-month high of $24.66. The company has a debt-to-equity ratio of -1.56, a current ratio of 1.39 and a quick ratio of 0.26.
Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings data on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Michaels Companies had a net margin of 7.33% and a negative return on equity of 22.16%. Michaels Companies’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. equities analysts anticipate that Michaels Companies will post 2.2 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware acquired a new position in shares of Michaels Companies during the second quarter valued at about $103,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 last quarter. Pinebridge Investments L.P. acquired a new position in shares of Michaels Companies during the second quarter valued at about $124,000. Pacer Advisors Inc. raised its position in shares of Michaels Companies by 5.0% during the second quarter. Pacer Advisors Inc. now owns 8,028 shares of the specialty retailer’s stock valued at $149,000 after buying an additional 383 shares during the last quarter. Finally, LS Investment Advisors LLC raised its position in shares of Michaels Companies by 24.6% during the second quarter. LS Investment Advisors LLC now owns 8,825 shares of the specialty retailer’s stock valued at $163,000 after buying an additional 1,745 shares during the last quarter.
About 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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