Michaels Companies Inc (NASDAQ:MIK) gapped down prior to trading on Friday . The stock had previously closed at $9.05, but opened at $8.37. Michaels Companies shares last traded at $7.81, with a volume of 2,985,943 shares traded.
Several research analysts have recently weighed in on the stock. Loop Capital set a $15.00 target price on shares of Michaels Companies and gave the stock a “buy” rating in a research report on Friday, July 12th. 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. Deutsche Bank set a $261.00 target price on shares of Vail Resorts and gave the stock a “buy” rating in a research report on Friday, June 7th. Goldman Sachs Group raised shares of Altria Group from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Thursday, July 11th. Finally, Morgan Stanley assumed coverage on shares of in a research report on Monday, June 17th. They issued an “equal weight” rating and a GBX 215 ($2.81) target price on the stock. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $10.73.
The company has a 50-day moving average of $8.57. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 3.32, a PEG ratio of 0.62 and a beta of 1.10.
Michaels Companies (NASDAQ:MIK) last released its earnings results on Thursday, June 6th. The specialty retailer reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.11 billion. Michaels Companies had a net margin of 6.34% and a negative return on equity of 22.82%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. On average, analysts forecast that Michaels Companies Inc will post 2.35 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its position in Michaels Companies by 29.9% during the first quarter. FMR LLC now owns 2,699,700 shares of the specialty retailer’s stock valued at $30,831,000 after purchasing an additional 620,679 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Michaels Companies by 22.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,434,311 shares of the specialty retailer’s stock valued at $32,960,000 after purchasing an additional 448,448 shares in the last quarter. Norges Bank purchased a new position in Michaels Companies during the fourth quarter valued at approximately $30,536,000. Reinhart Partners Inc. grew its position in Michaels Companies by 11.8% during the first quarter. Reinhart Partners Inc. now owns 1,852,678 shares of the specialty retailer’s stock valued at $21,158,000 after purchasing an additional 195,111 shares in the last quarter. Finally, Sapience Investments LLC grew its position in Michaels Companies by 9.2% during the first quarter. Sapience Investments LLC now owns 1,641,795 shares of the specialty retailer’s stock valued at $18,749,000 after purchasing an additional 137,655 shares in the last quarter.
About Michaels Companies (NASDAQ:MIK)
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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