Loop Capital set a $15.00 price objective on Michaels Companies (NASDAQ:MIK) in a research report report published on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the specialty retailer’s stock.
A number of other brokerages have also recently commented on MIK. Bank of America increased their target price on Altria Group from $56.00 to $66.00 and gave the company a buy rating in a report on Wednesday, March 20th. Telsey Advisory Group cut Michaels Companies from an outperform rating to a market perform rating and lowered their target price for the company from $17.00 to $9.00 in a report on Friday, June 7th. Zacks Investment Research upgraded Investors Real Estate Trust Reit from a sell rating to a hold rating in a report on Thursday, May 23rd. Piper Jaffray Companies lowered their target price on Michaels Companies from $11.00 to $9.00 and set an underweight rating on the stock in a report on Friday, March 15th. Finally, Morgan Stanley started coverage on in a report on Monday, June 17th. They set an equal weight rating and a GBX 215 ($2.81) target price on the stock. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. Michaels Companies presently has an average rating of Hold and a consensus target price of $11.64.
Shares of MIK stock traded up $0.22 during trading hours on Friday, reaching $8.48. 2,799,123 shares of the company’s stock were exchanged, compared to its average volume of 3,071,837. The firm has a market cap of $1.34 billion, a P/E ratio of 3.61, a P/E/G ratio of 0.59 and a beta of 1.10. The business’s 50 day simple moving average is $8.71. Michaels Companies has a 1 year low of $7.39 and a 1 year high of $21.11.
Michaels Companies (NASDAQ:MIK) last released its quarterly earnings data on Thursday, June 6th. The specialty retailer reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. Michaels Companies had a negative return on equity of 22.82% and a net margin of 6.34%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the business posted $0.39 EPS. Michaels Companies’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts forecast that Michaels Companies will post 2.35 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC acquired a new position in Michaels Companies in the fourth quarter valued at $2,740,000. California Public Employees Retirement System boosted its holdings in Michaels Companies by 9.1% in the fourth quarter. California Public Employees Retirement System now owns 203,656 shares of the specialty retailer’s stock valued at $2,758,000 after acquiring an additional 16,940 shares during the last quarter. BBT Capital Management LLC boosted its holdings in Michaels Companies by 56.0% in the first quarter. BBT Capital Management LLC now owns 48,001 shares of the specialty retailer’s stock valued at $548,000 after acquiring an additional 17,224 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Michaels Companies by 512.3% in the first quarter. Meeder Asset Management Inc. now owns 2,492 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 2,085 shares during the last quarter. Finally, Ingalls & Snyder LLC boosted its holdings in Michaels Companies by 47.6% in the first quarter. Ingalls & Snyder LLC now owns 1,177,217 shares of the specialty retailer’s stock valued at $13,444,000 after acquiring an additional 379,391 shares during 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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