BidaskClub cut shares of The Michaels Companies, Inc. (NASDAQ:MIK) from a sell rating to a strong sell rating in a research note published on Thursday.

MIK has been the subject of a number of other reports. Zacks Investment Research downgraded shares of The Michaels Companies from a buy rating to a hold rating in a report on Wednesday, October 25th. J P Morgan Chase & Co raised shares of The Michaels Companies from a neutral rating to an overweight rating and set a $23.00 price target for the company in a report on Monday, July 24th. ValuEngine downgraded shares of The Michaels Companies from a buy rating to a hold rating in a report on Friday, September 1st. Piper Jaffray Companies downgraded shares of The Michaels Companies from a neutral rating to an underweight rating in a report on Friday, October 27th. Finally, Bank of America Corporation reissued a buy rating and issued a $29.00 price target on shares of The Michaels Companies in a report on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $24.29.

The Michaels Companies (NASDAQ MIK) traded up $0.01 during midday trading on Thursday, hitting $18.57. 1,261,600 shares of the company traded hands, compared to its average volume of 2,311,438. The company has a current ratio of 1.44, a quick ratio of 0.26 and a debt-to-equity ratio of -1.53. The company has a market cap of $3,360.91, a P/E ratio of 9.62, a P/E/G ratio of 0.84 and a beta of 0.86. The Michaels Companies has a fifty-two week low of $17.25 and a fifty-two week high of $25.57.

The Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. The Michaels Companies had a net margin of 7.29% and a negative return on equity of 22.53%. The Michaels Companies’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 EPS. sell-side analysts anticipate that The Michaels Companies will post 2.14 earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of The Michaels Companies by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 9,477,211 shares of the specialty retailer’s stock worth $212,194,000 after acquiring an additional 615,723 shares during the period. BlackRock Inc. lifted its holdings in shares of The Michaels Companies by 7.1% during the 2nd quarter. BlackRock Inc. now owns 8,752,674 shares of the specialty retailer’s stock worth $162,099,000 after acquiring an additional 583,585 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of The Michaels Companies by 52.1% during the 2nd quarter. Alliancebernstein L.P. now owns 6,090,904 shares of the specialty retailer’s stock worth $112,804,000 after acquiring an additional 2,086,817 shares during the period. State Street Corp lifted its holdings in shares of The Michaels Companies by 15.5% during the 2nd quarter. State Street Corp now owns 5,872,512 shares of the specialty retailer’s stock worth $108,763,000 after acquiring an additional 787,225 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in shares of The Michaels Companies by 3.6% during the 2nd quarter. William Blair Investment Management LLC now owns 4,392,319 shares of the specialty retailer’s stock worth $81,346,000 after acquiring an additional 152,308 shares during the period. 98.41% of the stock is owned by institutional investors.

About The Michaels Companies

The Michaels Companies, Inc (Michaels) is an arts and crafts specialty retailer in North America. The Company’s segments include Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s and Darice. As of January 28, 2017, the Company operated 1,223 Michaels retail stores in 49 states and Canada, with approximately 18,000 average square feet of selling space per store.

Analyst Recommendations for The Michaels Companies (NASDAQ:MIK)

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