Michaels Companies (NASDAQ:MIK) Earns “Buy” Rating from Loop Capital

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Loop Capital reaffirmed their buy rating on shares of Michaels Companies (NASDAQ:MIK) in a research report released on Friday, The Fly reports. They currently have a $10.00 price target on the specialty retailer’s stock.

MIK has been the subject of several other reports. JPMorgan Chase & Co. dropped their target price on shares of Michaels Companies from $9.00 to $7.00 and set a neutral rating for the company in a research report on Thursday, September 5th. Morgan Stanley set a $7.00 target price on shares of Michaels Companies and gave the company a hold rating in a research note on Monday, September 9th. ValuEngine downgraded shares of Michaels Companies from a hold rating to a sell rating in a research note on Friday, November 1st. Telsey Advisory Group lowered their price objective on shares of Michaels Companies from $10.00 to $7.00 and set a market perform rating for the company in a report on Friday. Finally, Wells Fargo & Co set a $6.00 price objective on shares of Michaels Companies and gave the stock a hold rating in a report on Wednesday, September 4th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $8.00.

MIK opened at $6.69 on Friday. The stock has a market capitalization of $1.04 billion, a PE ratio of 2.85, a price-to-earnings-growth ratio of 0.50 and a beta of 1.05. The stock’s 50 day moving average price is $8.85 and its 200-day moving average price is $8.27. Michaels Companies has a 52-week low of $4.96 and a 52-week high of $16.62.

Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.09). The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Michaels Companies had a negative return on equity of 22.75% and a net margin of 5.30%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. As a group, analysts forecast that Michaels Companies will post 2.12 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. CSat Investment Advisory L.P. lifted its position in Michaels Companies by 17.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 16,691 shares of the specialty retailer’s stock valued at $145,000 after acquiring an additional 2,489 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Michaels Companies by 2.4% in the third quarter. California State Teachers Retirement System now owns 134,695 shares of the specialty retailer’s stock worth $1,319,000 after acquiring an additional 3,133 shares during the period. Bank of Montreal Can raised its holdings 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 valued at $78,000 after purchasing an additional 3,194 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Michaels Companies by 2.9% during the third quarter. Public Employees Retirement System of Ohio now owns 112,596 shares of the specialty retailer’s stock valued at $1,102,000 after purchasing an additional 3,224 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in Michaels Companies by 4.3% during the third quarter. Pacer Advisors Inc. now owns 87,634 shares of the specialty retailer’s stock valued at $858,000 after purchasing an additional 3,622 shares during the period.

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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The Fly

Analyst Recommendations for Michaels Companies (NASDAQ:MIK)

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