Michaels Companies (MIK) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Michaels Companies (NASDAQ:MIK) from a buy rating to a hold rating in a research note published on Tuesday.

According to Zacks, “The Michaels Companies, Inc. is a specialty retailer of arts and crafts. The Company’s stores offer stock-keeping units in arts, crafts, scrapbooking, floral, framing, home décor, seasonal offerings, and children’s hobbies. It produces 11 exclusive private brands including Recollections(R), Studio Decor(R), Bead Landing(R), Creatology(R), Ashland(R), Celebrate It(R), Art Minds(R), Artist’s Loft(R), Craft Smart(R), Loops & Threads(R) and Imagin8(R). The Michaels Companies, Inc. is based in Irving, Texas. “

Several other research firms have also commented on MIK. Bank of America reiterated a buy rating and set a $29.00 price objective on shares of Michaels Companies in a research note on Tuesday, September 5th. ValuEngine lowered shares of Michaels Companies from a buy rating to a hold rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Michaels Companies from a hold rating to a buy rating in a research note on Thursday, September 28th. Raymond James Financial reiterated a hold rating on shares of Michaels Companies in a research note on Saturday, December 2nd. Finally, Piper Jaffray Companies set a $18.00 price objective on shares of Michaels Companies and gave the stock a hold rating in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Michaels Companies has a consensus rating of Hold and a consensus target price of $23.43.

Michaels Companies (NASDAQ:MIK) traded up $0.51 during midday trading on Tuesday, hitting $22.00. 3,762,700 shares of the company traded hands, compared to its average volume of 2,212,137. The company has a debt-to-equity ratio of -1.56, a quick ratio of 0.25 and a current ratio of 1.39. The company has a market cap of $4,030.00, a price-to-earnings ratio of 10.91, a PEG ratio of 0.96 and a beta of 0.92. Michaels Companies has a 1 year low of $17.25 and a 1 year high of $24.24.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings data on Thursday, November 30th. The specialty retailer reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.26 billion. Michaels Companies had a net margin of 7.33% and a negative return on equity of 22.16%. Michaels Companies’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 EPS. analysts anticipate that Michaels Companies will post 2.16 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board grew its position in Michaels Companies by 386.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 98,300 shares of the specialty retailer’s stock worth $2,111,000 after purchasing an additional 78,100 shares during the last quarter. Alliancebernstein L.P. grew its position in Michaels Companies by 52.1% during the 2nd quarter. Alliancebernstein L.P. now owns 6,090,904 shares of the specialty retailer’s stock worth $112,804,000 after purchasing an additional 2,086,817 shares during the last quarter. BlackRock Inc. grew its position in Michaels Companies by 7.1% during the 2nd quarter. BlackRock Inc. now owns 8,752,674 shares of the specialty retailer’s stock worth $162,099,000 after purchasing an additional 583,585 shares during the last quarter. Rhumbline Advisers grew its position in Michaels Companies by 12.2% during the 2nd quarter. Rhumbline Advisers now owns 204,645 shares of the specialty retailer’s stock worth $3,790,000 after purchasing an additional 22,190 shares during the last quarter. Finally, Flinton Capital Management LLC grew its position in Michaels Companies by 75.9% during the 2nd quarter. Flinton Capital Management LLC now owns 58,512 shares of the specialty retailer’s stock worth $1,084,000 after purchasing an additional 25,248 shares during 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.

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