The Michaels Companies, Inc. (NASDAQ:MIK) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Tuesday, July 25th.
A number of other brokerages also recently commented on MIK. Zacks Investment Research downgraded The Michaels Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. J P Morgan Chase & Co raised The Michaels Companies from a “neutral” rating to an “overweight” rating and set a $23.00 price target for the company in a research report on Monday, July 24th. Bank of America Corporation reaffirmed a “buy” rating and issued a $26.00 price target on shares of The Michaels Companies in a research report on Friday, June 16th. Piper Jaffray Companies cut The Michaels Companies from an “overweight” rating to a “neutral” rating in a research report on Monday, March 27th. Finally, TheStreet raised The Michaels Companies from a “d+” rating to a “c” rating in a research report on Monday, June 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The Michaels Companies has a consensus rating of “Hold” and a consensus target price of $25.25.
The Michaels Companies (NASDAQ:MIK) traded up 2.24% during trading on Tuesday, hitting $20.04. 1,402,297 shares of the company’s stock were exchanged. The Michaels Companies has a 12-month low of $17.25 and a 12-month high of $26.30. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 10.71 and a beta of 0.96. The company’s 50-day moving average price is $19.02 and its 200 day moving average price is $20.54.
The Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings data on Tuesday, June 6th. The specialty retailer reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. The Michaels Companies had a net margin of 7.30% and a negative return on equity of 22.75%. The firm’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 EPS. Equities analysts forecast that The Michaels Companies will post $2.08 earnings per share for the current fiscal year.
The Michaels Companies announced that its board has authorized a share repurchase plan on Thursday, June 15th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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Several large investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP purchased a new position in shares of The Michaels Companies during the first quarter worth about $111,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of The Michaels Companies by 59.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,007 shares of the specialty retailer’s stock worth $112,000 after buying an additional 1,875 shares during the period. Russell Investments Group Ltd. bought a new stake in The Michaels Companies during the fourth quarter worth $122,000. Pinebridge Investments L.P. bought a new stake in The Michaels Companies during the second quarter worth $124,000. Finally, LS Investment Advisors LLC bought a new stake in The Michaels Companies during the first quarter worth $159,000. Institutional investors own 98.43% of the company’s stock.
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.
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