Loop Capital reaffirmed their buy rating on shares of Michaels Companies (NASDAQ:MIK) in a research report sent to investors on Friday morning, The Fly reports. Loop Capital currently has a $10.00 price target on the specialty retailer’s stock.
Several other analysts have also issued reports on the company. Morgan Stanley set a $7.00 target price on Michaels Companies and gave the stock a hold rating in a report on Monday, September 9th. ValuEngine downgraded shares of Michaels Companies from a hold rating to a sell rating in a research report on Friday, November 1st. Stephens cut shares of Michaels Companies from an overweight rating to an equal weight rating and lowered their price target for the company from $9.00 to $7.00 in a research report on Friday. BidaskClub lowered shares of Michaels Companies from a sell rating to a strong sell rating in a report on Friday. Finally, JPMorgan Chase & Co. cut their target price on Michaels Companies from $9.00 to $7.00 and set a neutral rating on the stock in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Michaels Companies presently has a consensus rating of Hold and a consensus price target of $8.00.
NASDAQ MIK opened at $6.78 on Friday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 2.86, a PEG ratio of 0.50 and a beta of 1.05. The company has a 50 day moving average of $8.67 and a 200-day moving average of $8.22. Michaels Companies has a 1-year low of $4.96 and a 1-year high of $16.39.
Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.09). Michaels Companies had a negative return on equity of 22.75% and a net margin of 5.30%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company earned $0.48 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Research analysts predict that Michaels Companies will post 2.12 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the business. First Trust Advisors LP raised its position in Michaels Companies by 21.9% during the second quarter. First Trust Advisors LP now owns 345,676 shares of the specialty retailer’s stock valued at $3,007,000 after acquiring an additional 62,039 shares in the last quarter. BBT Capital Management LLC increased its holdings in Michaels Companies by 8.3% in the 2nd quarter. BBT Capital Management LLC now owns 51,994 shares of the specialty retailer’s stock worth $452,000 after acquiring an additional 3,993 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Michaels Companies by 40.9% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,475 shares of the specialty retailer’s stock worth $718,000 after acquiring an additional 23,925 shares during the period. Bernzott Capital Advisors lifted its holdings in Michaels Companies by 0.7% during the second quarter. Bernzott Capital Advisors now owns 2,046,073 shares of the specialty retailer’s stock valued at $17,801,000 after purchasing an additional 14,813 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Michaels Companies during the third quarter worth about $573,000.
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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