Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Michaels Companies from a buy rating to a hold rating in a research note on Thursday, May 23rd. Telsey Advisory Group cut shares of Michaels Companies from an outperform rating to a market perform rating and dropped their price objective for the stock from $17.00 to $9.00 in a research report on Friday, June 7th. Bank of America reaffirmed an underperform rating and set a $4.00 price objective (down previously from $5.00) on shares of Michaels Companies in a report on Tuesday, August 20th. Credit Suisse Group downgraded Michaels Companies from an outperform rating to a neutral rating and reduced their price objective for the stock from $18.00 to $11.00 in a report on Friday, June 7th. Finally, Morgan Stanley set a $9.00 price objective on Michaels Companies and gave the company a hold rating in a research report on Monday, June 17th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Michaels Companies currently has an average rating of Hold and a consensus price target of $8.91.
Shares of NASDAQ MIK opened at $10.07 on Friday. The firm’s 50-day simple moving average is $6.32 and its 200 day simple moving average is $9.61. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 4.29, a price-to-earnings-growth ratio of 0.58 and a beta of 1.06. Michaels Companies has a 12-month low of $4.96 and a 12-month high of $18.04.
Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings data on Wednesday, September 4th. The specialty retailer reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. Michaels Companies had a net margin of 6.31% and a negative return on equity of 23.40%. The company’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 EPS. On average, research analysts predict that Michaels Companies will post 2.37 earnings per share for the current year.
In other Michaels Companies news, Director Beryl Raff purchased 6,700 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $7.47 per share, for a total transaction of $50,049.00. Following the transaction, the director now directly owns 30,993 shares in the company, valued at $231,517.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.51% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. AlphaOne Investment Services LLC grew its holdings in Michaels Companies by 126.1% during the first quarter. AlphaOne Investment Services LLC now owns 3,211 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 1,791 shares during the period. Royce & Associates LP boosted its position in shares of Michaels Companies by 56.3% during the first quarter. Royce & Associates LP now owns 3,911 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 1,408 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Michaels Companies by 54.8% during the second quarter. Bank of Montreal Can now owns 9,022 shares of the specialty retailer’s stock worth $78,000 after purchasing an additional 3,194 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Michaels Companies in the 2nd quarter valued at $98,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Michaels Companies in the 1st quarter valued at $102,000.
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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