Michaels Companies (NASDAQ:MIK) had its price objective boosted by Morgan Stanley from $5.00 to $7.00 in a research report report published on Friday, The Fly reports. They currently have an underweight rating on the specialty retailer’s stock. The analysts noted that the move was a valuation call.
MIK has been the subject of a number of other research reports. Loop Capital lifted their target price on shares of Michaels Companies from $8.00 to $20.00 and gave the stock a buy rating in a research report on Friday, September 4th. TheStreet upgraded shares of Michaels Companies from a d+ rating to a c rating in a research note on Thursday, September 3rd. Telsey Advisory Group lifted their price target on shares of Michaels Companies from $6.00 to $10.00 and gave the stock a market perform rating in a research note on Friday, August 21st. Credit Suisse Group upgraded shares of Michaels Companies from a neutral rating to an outperform rating and lifted their price target for the stock from $13.00 to $15.00 in a research note on Friday, September 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Michaels Companies from $13.00 to $14.00 and gave the stock an overweight rating in a research note on Monday, August 31st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $11.72.
NASDAQ:MIK opened at $9.42 on Friday. Michaels Companies has a 12 month low of $1.00 and a 12 month high of $11.70. The company has a market cap of $1.39 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 4.88 and a beta of 3.04. The company has a 50 day simple moving average of $9.80 and a two-hundred day simple moving average of $5.72.
Michaels Companies (NASDAQ:MIK) last posted its earnings results on Thursday, September 3rd. The specialty retailer reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.38. Michaels Companies had a net margin of 2.84% and a negative return on equity of 14.84%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted $0.19 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts predict that Michaels Companies will post 1.68 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado lifted its stake in shares of Michaels Companies by 31.6% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 17,282 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 4,153 shares in the last quarter. Maryland Capital Management purchased a new position in shares of Michaels Companies during the 1st quarter valued at $29,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Michaels Companies during the 1st quarter valued at $29,000. Advisor Group Holdings Inc. lifted its stake in shares of Michaels Companies by 107.5% during the 2nd quarter. Advisor Group Holdings Inc. now owns 4,167 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 2,159 shares in the last quarter. Finally, Globeflex Capital L P lifted its stake in shares of Michaels Companies by 115.0% during the 1st quarter. Globeflex Capital L P now owns 20,310 shares of the specialty retailer’s stock valued at $33,000 after buying an additional 10,864 shares in the last quarter.
Michaels Companies Company Profile
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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