Michaels Companies Inc (MIK) Receives $20.43 Consensus Target Price from Analysts

Michaels Companies Inc (NASDAQ:MIK) has been assigned a consensus rating of “Hold” from the fourteen research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $20.43.

A number of research firms have recently commented on MIK. ValuEngine lowered shares of Michaels Companies from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 26th. JPMorgan Chase & Co. restated a “focus list” rating on shares of Michaels Companies in a research report on Thursday, June 21st. Wells Fargo & Co restated a “hold” rating and set a $19.00 price target (down from $20.00) on shares of Michaels Companies in a research report on Thursday, August 30th. Deutsche Bank dropped their price objective on shares of Michaels Companies from $21.00 to $19.00 and set a “hold” rating for the company in a report on Friday, August 31st. Finally, Morgan Stanley dropped their price objective on shares of Michaels Companies from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, October 11th.

MIK opened at $16.89 on Friday. The firm has a market cap of $2.78 billion, a PE ratio of 7.78, a PEG ratio of 0.90 and a beta of 1.13. The company has a quick ratio of 0.26, a current ratio of 1.48 and a debt-to-equity ratio of -1.59. Michaels Companies has a one year low of $14.82 and a one year high of $27.87.

Michaels Companies (NASDAQ:MIK) last released its quarterly earnings results on Thursday, August 30th. The specialty retailer reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. Michaels Companies had a net margin of 6.31% and a negative return on equity of 24.56%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 EPS. Sell-side analysts forecast that Michaels Companies will post 2.35 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Michaels Companies by 3.1% in the first quarter. BlackRock Inc. now owns 9,370,832 shares of the specialty retailer’s stock worth $184,700,000 after purchasing an additional 281,662 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Michaels Companies by 30.7% in the first quarter. JPMorgan Chase & Co. now owns 174,123 shares of the specialty retailer’s stock worth $3,432,000 after purchasing an additional 40,881 shares during the last quarter. California Public Employees Retirement System lifted its stake in Michaels Companies by 8.6% in the first quarter. California Public Employees Retirement System now owns 198,286 shares of the specialty retailer’s stock worth $3,908,000 after purchasing an additional 15,672 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Michaels Companies by 10.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,610,603 shares of the specialty retailer’s stock worth $31,745,000 after purchasing an additional 157,258 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Michaels Companies by 37.4% in the first quarter. PNC Financial Services Group Inc. now owns 21,074 shares of the specialty retailer’s stock worth $415,000 after purchasing an additional 5,737 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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Analyst Recommendations for Michaels Companies (NASDAQ:MIK)

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