A number of other equities analysts also recently issued reports on MIK. Wells Fargo & Co reissued a “hold” rating and set a $17.00 target price (down from $19.00) on shares of Michaels Companies in a research note on Thursday, December 6th. Loop Capital set a $18.00 target price on Michaels Companies and gave the stock a “hold” rating in a research note on Thursday, December 6th. BidaskClub downgraded Michaels Companies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 8th. Zacks Investment Research raised Michaels Companies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Monday, December 17th. Finally, JPMorgan Chase & Co. downgraded Michaels Companies from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $15.00 in a research note on Friday, March 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $17.73.
Shares of NASDAQ MIK opened at $12.79 on Wednesday. The stock has a market capitalization of $1.86 billion, a P/E ratio of 5.89, a PEG ratio of 0.54 and a beta of 1.14. Michaels Companies has a 52-week low of $11.44 and a 52-week high of $22.15.
Michaels Companies (NASDAQ:MIK) last announced its earnings results on Tuesday, March 19th. The specialty retailer reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.02. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Michaels Companies had a negative return on equity of 24.35% and a net margin of 6.35%. The business’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 EPS. Research analysts anticipate that Michaels Companies will post 2.36 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund increased its stake in Michaels Companies by 1,108.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 525,907 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 482,395 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Michaels Companies in the 4th quarter valued at approximately $64,000. Advisor Group Inc. increased its stake in Michaels Companies by 128.3% in the 4th quarter. Advisor Group Inc. now owns 9,396 shares of the specialty retailer’s stock valued at $127,000 after purchasing an additional 5,280 shares in the last quarter. Franklin Resources Inc. purchased a new position in Michaels Companies in the 3rd quarter valued at approximately $195,000. Finally, We Are One Seven LLC increased its stake in Michaels Companies by 36.5% in the 4th quarter. We Are One Seven LLC now owns 15,165 shares of the specialty retailer’s stock valued at $205,000 after purchasing an additional 4,052 shares in the last quarter.
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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