Michaels Companies (NASDAQ:MIK) had its target price increased by Wells Fargo & Company from $8.00 to $9.00 in a report issued on Friday, Benzinga reports. The firm currently has an equal weight rating on the specialty retailer’s stock.
A number of other brokerages also recently issued reports on MIK. Loop Capital increased their price target on shares of Michaels Companies from $20.00 to $25.00 and gave the company a buy rating in a report on Friday. Zacks Investment Research upgraded shares of Michaels Companies from a sell rating to a hold rating and set a $12.00 price target for the company in a report on Wednesday, September 2nd. Credit Suisse Group upgraded shares of Michaels Companies from a neutral rating to an outperform rating and increased their price target for the company from $13.00 to $15.00 in a report on Friday, September 4th. Telsey Advisory Group increased their price objective on shares of Michaels Companies from $6.00 to $10.00 and gave the company a market perform rating in a research note on Friday, August 21st. Finally, Morgan Stanley increased their price objective on shares of Michaels Companies from $5.00 to $7.00 and gave the company an underweight rating in a research note on Friday. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $11.72.
Shares of Michaels Companies stock opened at $9.42 on Friday. The company has a market cap of $1.39 billion, a P/E ratio of 9.92, a PEG ratio of 4.88 and a beta of 3.04. Michaels Companies has a one year low of $1.00 and a one year high of $11.70. The firm has a fifty day moving average of $9.80 and a two-hundred day moving average of $5.72.
Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings data on Thursday, September 3rd. The specialty retailer reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.38. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.01 billion. Michaels Companies had a net margin of 2.84% and a negative return on equity of 14.84%. Michaels Companies’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS. As a group, equities analysts anticipate that Michaels Companies will post 1.68 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in MIK. FMR LLC boosted its stake in shares of Michaels Companies by 99.0% during the 2nd quarter. FMR LLC now owns 8,420,508 shares of the specialty retailer’s stock worth $59,533,000 after purchasing an additional 4,189,608 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Michaels Companies by 344.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,207,475 shares of the specialty retailer’s stock worth $29,747,000 after purchasing an additional 3,261,168 shares during the last quarter. Mudrick Capital Management L.P. acquired a new stake in shares of Michaels Companies during the 1st quarter worth about $1,653,000. Squarepoint Ops LLC boosted its stake in shares of Michaels Companies by 858.3% during the 1st quarter. Squarepoint Ops LLC now owns 1,067,062 shares of the specialty retailer’s stock worth $1,729,000 after purchasing an additional 955,716 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Michaels Companies by 596.2% in the first quarter. Thrivent Financial for Lutherans now owns 423,151 shares of the specialty retailer’s stock worth $685,000 after acquiring an additional 362,375 shares during 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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