Michaels Companies (NASDAQ:MIK) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other equities analysts have also commented on the stock. Morgan Stanley dropped their price target on shares of Michaels Companies from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, October 11th. ValuEngine upgraded shares of Michaels Companies from a “strong sell” rating to a “sell” rating in a research note on Monday, August 20th. Zacks Investment Research lowered shares of Michaels Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Wells Fargo & Co reiterated a “hold” rating and issued a $19.00 price target (down from $20.00) on shares of Michaels Companies in a research note on Thursday, August 30th. Finally, Deutsche Bank dropped their price target on shares of Michaels Companies from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, August 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Michaels Companies currently has a consensus rating of “Hold” and a consensus price target of $21.67.

MIK stock opened at $15.65 on Friday. Michaels Companies has a fifty-two week low of $14.82 and a fifty-two week high of $27.87. The company has a market cap of $2.81 billion, a P/E ratio of 7.21, a PEG ratio of 0.91 and a beta of 1.04.

Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings results on Thursday, December 6th. The specialty retailer reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates 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 was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, analysts predict that Michaels Companies will post 2.35 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Michaels Companies during the second quarter worth approximately $170,000. We Are One Seven LLC purchased a new position in shares of Michaels Companies during the third quarter worth approximately $180,000. State of Alaska Department of Revenue grew its position in shares of Michaels Companies by 138.6% during the third quarter. State of Alaska Department of Revenue now owns 11,642 shares of the specialty retailer’s stock worth $187,000 after acquiring an additional 6,762 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Michaels Companies during the third quarter worth approximately $195,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Michaels Companies during the second quarter worth approximately $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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