Goldman Sachs Group initiated coverage on shares of Michaels Companies (NASDAQ:MIK) in a report released on Thursday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $8.00 price objective on the specialty retailer’s stock.
A number of other brokerages have also issued reports on MIK. Bank of America boosted their target price on shares of Altria Group from $56.00 to $66.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. Telsey Advisory Group lowered shares of Michaels Companies from an outperform rating to a market perform rating and dropped their target price for the stock from $17.00 to $9.00 in a research report on Friday, June 7th. Morgan Stanley initiated coverage on shares of in a research report on Monday, June 17th. They set an equal weight rating and a GBX 215 ($2.81) target price on the stock. Zacks Investment Research raised shares of Investors Real Estate Trust Reit from a sell rating to a hold rating in a research report on Thursday, May 23rd. Finally, Credit Suisse Group boosted their target price on shares of Beyond Meat from $70.00 to $125.00 in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $11.82.
Shares of Michaels Companies stock opened at $8.48 on Thursday. The business has a fifty day moving average price of $8.71. Michaels Companies has a 1-year low of $7.39 and a 1-year high of $21.11. The firm has a market capitalization of $1.34 billion, a PE ratio of 3.56, a price-to-earnings-growth ratio of 0.59 and a beta of 1.10.
Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings data on Thursday, June 6th. The specialty retailer reported $0.31 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.31. Michaels Companies had a net margin of 6.34% and a negative return on equity of 22.82%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company earned $0.39 earnings per share. Michaels Companies’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities research analysts anticipate that Michaels Companies will post 2.35 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new stake in Michaels Companies in the 4th quarter valued at $2,740,000. California Public Employees Retirement System increased its holdings in Michaels Companies by 9.1% in the 4th quarter. California Public Employees Retirement System now owns 203,656 shares of the specialty retailer’s stock valued at $2,758,000 after buying an additional 16,940 shares during the period. BBT Capital Management LLC increased its holdings in Michaels Companies by 56.0% in the 1st quarter. BBT Capital Management LLC now owns 48,001 shares of the specialty retailer’s stock valued at $548,000 after buying an additional 17,224 shares during the period. Meeder Asset Management Inc. increased its holdings in Michaels Companies by 512.3% in the 1st quarter. Meeder Asset Management Inc. now owns 2,492 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 2,085 shares during the period. Finally, Ingalls & Snyder LLC increased its holdings in Michaels Companies by 47.6% in the 1st quarter. Ingalls & Snyder LLC now owns 1,177,217 shares of the specialty retailer’s stock valued at $13,444,000 after buying an additional 379,391 shares during the period.
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.
Read More: What is a Candlestick Chart?
Receive News & Ratings for Michaels Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michaels Companies and related companies with MarketBeat.com's FREE daily email newsletter.