First Trust Advisors LP increased its position in The Michaels Companies, Inc. (NASDAQ:MIK) by 93.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 361,702 shares of the specialty retailer’s stock after purchasing an additional 174,834 shares during the quarter. First Trust Advisors LP owned approximately 0.20% of The Michaels Companies worth $7,766,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MIK. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in The Michaels Companies by 11.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,556 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 549 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in The Michaels Companies during the second quarter valued at $103,000. Pinebridge Investments L.P. purchased a new position in The Michaels Companies during the second quarter valued at $124,000. Pacer Advisors Inc. raised its stake in The Michaels Companies by 5.0% during the second quarter. Pacer Advisors Inc. now owns 8,028 shares of the specialty retailer’s stock valued at $149,000 after buying an additional 383 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in The Michaels Companies by 24.6% during the second quarter. LS Investment Advisors LLC now owns 8,825 shares of the specialty retailer’s stock valued at $163,000 after buying an additional 1,745 shares during the last quarter.

Shares of The Michaels Companies, Inc. (MIK) opened at $18.57 on Monday. The Michaels Companies, Inc. has a fifty-two week low of $17.25 and a fifty-two week high of $25.57. 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 stock has a market capitalization of $3,360.92, a PE ratio of 9.62, a price-to-earnings-growth ratio of 0.84 and a beta of 0.86.

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

Several research analysts have recently weighed in on MIK shares. Bank of America Corporation restated a “buy” rating and issued a $29.00 price target on shares of The Michaels Companies in a research note on Tuesday, September 5th. ValuEngine cut The Michaels Companies from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded The Michaels Companies from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Piper Jaffray Companies cut The Michaels Companies from a “neutral” rating to an “underweight” rating in a research note on Friday, October 27th. Finally, BidaskClub upgraded The Michaels Companies from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The Michaels Companies presently has a consensus rating of “Hold” and an average target price of $24.29.

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The Michaels Companies Company Profile

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.

Institutional Ownership by Quarter for The Michaels Companies (NASDAQ:MIK)

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