BidaskClub Lowers The Michaels Companies, Inc. (MIK) to Strong Sell

BidaskClub downgraded shares of The Michaels Companies, Inc. (NASDAQ:MIK) from a sell rating to a strong sell rating in a report issued on Thursday.

A number of other equities analysts also recently commented on MIK. Zacks Investment Research upgraded shares of The Michaels Companies from a sell rating to a hold rating in a research note on Thursday, November 2nd. J P Morgan Chase & Co upgraded shares of The Michaels Companies from a neutral rating to an overweight rating and set a $23.00 target price on the stock in a research note on Monday, July 24th. ValuEngine downgraded shares of The Michaels Companies from a buy rating to a hold rating in a research note on Friday, September 1st. Piper Jaffray Companies downgraded shares of The Michaels Companies from a neutral rating to an underweight rating in a research note on Friday, October 27th. Finally, Bank of America Corporation restated a buy rating and issued a $29.00 target price on shares of The Michaels Companies in a research note on Tuesday, September 5th. Two 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 Michaels Companies presently has an average rating of Hold and an average target price of $24.29.

Shares of The Michaels Companies (NASDAQ:MIK) traded up $0.01 during trading hours on Thursday, reaching $18.57. 1,261,600 shares of the company traded hands, compared to its average volume of 2,142,959. The company has a market cap of $3,360.92, a P/E ratio of 9.62, a price-to-earnings-growth ratio of 0.84 and a beta of 0.86. The Michaels Companies has a one year low of $17.25 and a one year high of $25.57. The company has a debt-to-equity ratio of -1.53, a current ratio of 1.44 and a quick ratio of 0.26.

The Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. The company had revenue of $1.07 billion for 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 firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS. analysts predict that The Michaels Companies will post 2.14 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “BidaskClub Lowers The Michaels Companies, Inc. (MIK) to Strong Sell” was originally reported by BBNS and is the property of of BBNS. If you are reading this piece of content on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this piece of content can be viewed at https://baseballnewssource.com/markets/bidaskclub-lowers-the-michaels-companies-inc-mik-to-strong-sell/1770920.html.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIK. BlackRock Inc. boosted its stake in shares of The Michaels Companies by 44,112.2% during the first quarter. BlackRock Inc. now owns 8,169,089 shares of the specialty retailer’s stock valued at $182,908,000 after purchasing an additional 8,150,612 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of The Michaels Companies by 52.1% during the second quarter. Alliancebernstein L.P. now owns 6,090,904 shares of the specialty retailer’s stock valued at $112,804,000 after purchasing an additional 2,086,817 shares in the last quarter. State Street Corp boosted its stake in shares of The Michaels Companies by 15.5% during the second quarter. State Street Corp now owns 5,872,512 shares of the specialty retailer’s stock valued at $108,763,000 after purchasing an additional 787,225 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of The Michaels Companies by 6.9% during the first quarter. Vanguard Group Inc. now owns 9,477,211 shares of the specialty retailer’s stock valued at $212,194,000 after purchasing an additional 615,723 shares in the last quarter. Finally, Freestone Capital Holdings LLC boosted its stake in shares of The Michaels Companies by 2,260.8% during the second quarter. Freestone Capital Holdings LLC now owns 639,903 shares of the specialty retailer’s stock valued at $11,851,000 after purchasing an additional 612,798 shares in the last quarter.

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.

Analyst Recommendations for The Michaels Companies (NASDAQ:MIK)

Receive News & Ratings for The Michaels Companies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Michaels Companies Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts


Leave a Reply

 
© 2006-2017 BBNS.