Michaels Companies (MIK) Lifted to “Buy” at Goldman Sachs Group
Goldman Sachs Group upgraded shares of Michaels Companies (NASDAQ:MIK) from a neutral rating to a buy rating in a research note released on Tuesday, MarketBeat Ratings reports.
Several other research firms also recently weighed in on MIK. BidaskClub upgraded Michaels Companies from a hold rating to a buy rating in a research note on Thursday, September 28th. ValuEngine downgraded Michaels Companies from a buy rating to a hold rating in a research note on Sunday, December 31st. Zacks Investment Research upgraded Michaels Companies from a sell rating to a hold rating in a research note on Thursday, November 2nd. Deutsche Bank downgraded Michaels Companies from a buy rating to a hold rating and set a $25.00 target price for the company. in a research note on Tuesday, December 12th. Finally, Piper Jaffray Companies downgraded Michaels Companies from a neutral rating to an underweight rating in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $23.63.
Michaels Companies (MIK) traded up $1.06 during mid-day trading on Tuesday, hitting $26.01. The stock had a trading volume of 1,788,251 shares, compared to its average volume of 1,661,431. The company has a debt-to-equity ratio of -1.56, a current ratio of 1.39 and a quick ratio of 0.25. The company has a market cap of $4,700.00, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 0.93 and a beta of 0.92. Michaels Companies has a 12 month low of $17.25 and a 12 month high of $26.05.
Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings results on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.26 billion. Michaels Companies had a negative return on equity of 22.16% and a net margin of 7.33%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 EPS. analysts predict that Michaels Companies will post 2.17 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new position in Michaels Companies in the 4th quarter worth about $214,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Michaels Companies by 12.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 543,922 shares of the specialty retailer’s stock valued at $13,158,000 after acquiring an additional 59,266 shares in the last quarter. Hikari Power Ltd purchased a new stake in shares of Michaels Companies in the 4th quarter valued at about $204,000. Parametric Portfolio Associates LLC raised its holdings in shares of Michaels Companies by 966.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 572,700 shares of the specialty retailer’s stock valued at $12,296,000 after acquiring an additional 518,984 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in shares of Michaels Companies by 12.4% in the 3rd quarter. GSA Capital Partners LLP now owns 53,046 shares of the specialty retailer’s stock valued at $1,139,000 after acquiring an additional 5,842 shares in the last quarter.
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About Michaels Companies
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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