Michaels Companies (NASDAQ:MIK) had its price objective dropped by research analysts at Piper Jaffray Companies from $11.00 to $9.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has an “underweight” rating on the specialty retailer’s stock. Piper Jaffray Companies’ price target points to a potential downside of 22.95% from the company’s current price.
Several other research firms also recently issued reports on MIK. BidaskClub downgraded Michaels Companies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 8th. Wells Fargo & Co restated a “hold” rating and issued a $17.00 price target (down from $19.00) on shares of Michaels Companies in a research note on Thursday, December 6th. Loop Capital set a $18.00 price target on Michaels Companies and gave the company a “hold” rating in a research note on Thursday, December 6th. Zacks Investment Research downgraded Michaels Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, December 18th. Finally, Credit Suisse Group restated a “positive” rating and issued a $20.00 price target (down from $26.00) on shares of Michaels Companies in a research note on Thursday, January 31st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.27.
MIK stock opened at $11.68 on Friday. The company has a market cap of $1.84 billion, a P/E ratio of 5.38, a price-to-earnings-growth ratio of 0.57 and a beta of 1.14. Michaels Companies has a 1-year low of $11.44 and a 1-year high of $22.38.
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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