Michaels Companies (MIK) Downgraded to “Hold” at Deutsche Bank

Michaels Companies (NASDAQ:MIK) was downgraded by equities research analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Several other equities research analysts have also recently weighed in on MIK. BidaskClub upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Raymond James Financial reiterated a “hold” rating on shares of Michaels Companies in a research note on Saturday, December 2nd. Piper Jaffray Companies reiterated a “hold” rating and issued a $18.00 target price on shares of Michaels Companies in a research note on Friday, September 29th. Finally, Zacks Investment Research cut shares of Michaels Companies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $23.43.

Shares of Michaels Companies (NASDAQ MIK) opened at $22.22 on Tuesday. The company has a debt-to-equity ratio of -1.56, a current ratio of 1.39 and a quick ratio of 0.25. Michaels Companies has a one year low of $17.25 and a one year high of $24.24. The firm has a market cap of $4,023.72, a PE ratio of 11.27, a P/E/G ratio of 0.99 and a beta of 0.92.

Michaels Companies (NASDAQ:MIK) last released its earnings results on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Michaels Companies had a net margin of 7.33% and a negative return on equity of 22.16%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company earned $0.40 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. research analysts forecast that Michaels Companies will post 2.16 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Mckinley Capital Management LLC Delaware bought a new position in shares of Michaels Companies in the second quarter valued at approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Michaels Companies by 11.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,556 shares of the specialty retailer’s stock valued at $103,000 after acquiring an additional 549 shares during the last quarter. Pinebridge Investments L.P. bought a new position in shares of Michaels Companies in the second quarter valued at approximately $124,000. Pacer Advisors Inc. raised its stake in shares of Michaels Companies by 5.0% in the second quarter. Pacer Advisors Inc. now owns 8,028 shares of the specialty retailer’s stock valued at $149,000 after acquiring an additional 383 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Michaels Companies in the third quarter valued at approximately $211,000.

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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.

Analyst Recommendations for Michaels Companies (NASDAQ:MIK)

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