Michaels Companies (MIK) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Michaels Companies (NASDAQ:MIK) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “The Michaels Companies, Inc. is a specialty retailer of arts and crafts. The Company’s stores offer stock-keeping units in arts, crafts, scrapbooking, floral, framing, home décor, seasonal offerings, and children’s hobbies. It produces 11 exclusive private brands including Recollections(R), Studio Decor(R), Bead Landing(R), Creatology(R), Ashland(R), Celebrate It(R), Art Minds(R), Artist’s Loft(R), Craft Smart(R), Loops & Threads(R) and Imagin8(R). The Michaels Companies, Inc. is based in Irving, Texas. “
A number of other equities research analysts have also commented on the stock. Bank of America restated a buy rating and set a $29.00 price objective on shares of Michaels Companies in a report on Tuesday, September 5th. ValuEngine lowered shares of Michaels Companies from a buy rating to a hold rating in a report on Friday, September 1st. BidaskClub upgraded shares of Michaels Companies from a hold rating to a buy rating in a report on Thursday, September 28th. Raymond James Financial restated a hold rating on shares of Michaels Companies in a report on Saturday, December 2nd. Finally, Piper Jaffray Companies set a $18.00 price objective on shares of Michaels Companies and gave the stock a hold rating in a report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Michaels Companies has a consensus rating of Hold and a consensus target price of $23.43.
Michaels Companies (NASDAQ:MIK) opened at $22.20 on Tuesday. The company has a market cap of $3,987.47, a P/E ratio of 11.17, a PEG ratio of 0.98 and a beta of 0.92. Michaels Companies has a 12-month low of $17.25 and a 12-month high of $24.24. The company has a quick ratio of 0.25, a current ratio of 1.39 and a debt-to-equity ratio of -1.56.
Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings results on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Michaels Companies had a net margin of 7.33% and a negative return on equity of 22.16%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. sell-side analysts predict that Michaels Companies will post 2.16 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of MIK. Alliancebernstein L.P. increased its stake in Michaels Companies by 52.1% in the 2nd quarter. Alliancebernstein L.P. now owns 6,090,904 shares of the specialty retailer’s stock valued at $112,804,000 after buying an additional 2,086,817 shares during the last quarter. State Street Corp increased its stake in Michaels Companies by 15.5% in the 2nd quarter. State Street Corp now owns 5,872,512 shares of the specialty retailer’s stock valued at $108,763,000 after buying an additional 787,225 shares during the last quarter. Freestone Capital Holdings LLC increased its stake in Michaels Companies by 2,260.8% in the 2nd quarter. Freestone Capital Holdings LLC now owns 639,903 shares of the specialty retailer’s stock valued at $11,851,000 after buying an additional 612,798 shares during the last quarter. BlackRock Inc. increased its stake in Michaels Companies by 7.1% in the 2nd quarter. BlackRock Inc. now owns 8,752,674 shares of the specialty retailer’s stock valued at $162,099,000 after buying an additional 583,585 shares during the last quarter. Finally, Sapience Investments LLC increased its stake in Michaels Companies by 70.9% in the 2nd quarter. Sapience Investments LLC now owns 1,171,775 shares of the specialty retailer’s stock valued at $21,701,000 after buying an additional 486,295 shares during the last quarter.
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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.
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