Michaels Companies Inc (NASDAQ:MIK) has received a consensus rating of “Hold” from the fourteen analysts that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $10.70.
Several equities analysts have weighed in on the company. Loop Capital set a $15.00 price objective on Michaels Companies and gave the company a “buy” rating in a research note on Friday, July 12th. Goldman Sachs Group assumed coverage on Michaels Companies in a research note on Thursday, July 11th. They set a “neutral” rating and a $8.00 price objective on the stock. BidaskClub cut Michaels Companies from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Credit Suisse Group cut Michaels Companies from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $11.00 in a research note on Friday, June 7th. Finally, Zacks Investment Research cut Michaels Companies from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIK. Meeder Asset Management Inc. raised its stake in shares of Michaels Companies by 512.3% during the 1st quarter. Meeder Asset Management Inc. now owns 2,492 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 2,085 shares during the period. AlphaOne Investment Services LLC raised its stake in Michaels Companies by 126.1% in the 1st quarter. AlphaOne Investment Services LLC now owns 3,211 shares of the specialty retailer’s stock valued at $37,000 after acquiring an additional 1,791 shares during the period. Royce & Associates LP raised its stake in Michaels Companies by 56.3% in the 1st quarter. Royce & Associates LP now owns 3,911 shares of the specialty retailer’s stock valued at $45,000 after acquiring an additional 1,408 shares during the period. WP Advisors LLC bought a new stake in Michaels Companies in the 1st quarter valued at about $65,000. Finally, Bank of Montreal Can raised its stake in Michaels Companies by 54.8% in the 2nd quarter. Bank of Montreal Can now owns 9,022 shares of the specialty retailer’s stock valued at $78,000 after acquiring an additional 3,194 shares during the period.
Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings data on Thursday, June 6th. The specialty retailer reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. Michaels Companies had a negative return on equity of 22.82% and a net margin of 6.34%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business earned $0.39 EPS. The business’s revenue was down 5.3% on a year-over-year basis. Research analysts predict that Michaels Companies will post 2.34 earnings per share for the current year.
About Michaels Companies
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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