Michaels Companies (NASDAQ:MIK) Rating Lowered to Strong Sell at BidaskClub

Michaels Companies (NASDAQ:MIK) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Thursday, November 9th.

MIK has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Michaels Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies reiterated a “hold” rating and issued a $18.00 price target on shares of Michaels Companies in a report on Friday, September 29th. ValuEngine upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Bank of America reissued a “buy” rating and issued a $29.00 target price on shares of Michaels Companies in a research note on Tuesday, September 5th. Finally, J P Morgan Chase & Co raised shares of 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. Two investment 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’s stock. The stock has a consensus rating of “Hold” and an average price target of $24.29.

Shares of Michaels Companies (NASDAQ:MIK) traded up $0.84 during trading on Thursday, reaching $19.34. 2,877,412 shares of the company’s stock were exchanged, compared to its average volume of 2,137,353. The stock has a market capitalization of $3,355.49, a PE ratio of 9.61, a PEG ratio of 0.83 and a beta of 0.86. Michaels Companies has a 12 month low of $17.25 and a 12 month high of $25.36. The company has a debt-to-equity ratio of -1.53, a quick ratio of 0.26 and a current ratio of 1.44.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Suntrust Banks Inc. boosted its stake in Michaels Companies by 3.0% during the 2nd quarter. Suntrust Banks Inc. now owns 12,680 shares of the specialty retailer’s stock valued at $234,000 after purchasing an additional 368 shares during the period. Pacer Advisors Inc. boosted its stake in Michaels Companies by 5.0% during the 2nd quarter. Pacer Advisors Inc. now owns 8,028 shares of the specialty retailer’s stock valued at $149,000 after purchasing an additional 383 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Michaels Companies by 11.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,556 shares of the specialty retailer’s stock valued at $103,000 after purchasing an additional 549 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Michaels Companies by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 27,600 shares of the specialty retailer’s stock worth $511,000 after buying an additional 800 shares in the last quarter. Finally, People s United Financial Inc. raised its position in shares of Michaels Companies by 5.5% during the 2nd quarter. People s United Financial Inc. now owns 17,323 shares of the specialty retailer’s stock worth $321,000 after buying an additional 904 shares in 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.

Analyst Recommendations for Michaels Companies (NASDAQ:MIK)

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