Michaels Companies (NASDAQ:MIK) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

Several other equities research analysts have also recently weighed in on the stock. Loop Capital set a $15.00 price objective on shares of Michaels Companies and gave the stock a “buy” rating in a research report on Friday, July 12th. Deutsche Bank lowered their target price on Michaels Companies from $16.00 to $9.00 and set a “hold” rating for the company in a research note on Friday, June 7th. Goldman Sachs Group started coverage on Michaels Companies in a research note on Thursday, July 11th. They set a “neutral” rating and a $8.00 target price for the company. Bank of America downgraded Michaels Companies from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $9.00 to $5.00 in a research note on Friday, July 19th. Finally, Zacks Investment Research downgraded Michaels Companies from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Michaels Companies currently has an average rating of “Hold” and a consensus price target of $10.73.

MIK opened at $5.45 on Tuesday. Michaels Companies has a twelve month low of $5.30 and a twelve month high of $20.81. The business’s 50-day moving average price is $7.50. The company has a market capitalization of $953.77 million, a PE ratio of 2.32, a price-to-earnings-growth ratio of 0.46 and a beta of 1.06.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings data on Thursday, June 6th. The specialty retailer reported $0.31 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Michaels Companies had a net margin of 6.34% and a negative return on equity of 22.82%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. Michaels Companies’s revenue was down 5.3% compared to the same quarter last year. On average, analysts expect that Michaels Companies will post 2.34 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Michaels Companies by 22.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,434,311 shares of the specialty retailer’s stock valued at $32,960,000 after acquiring an additional 448,448 shares during the period. Norges Bank acquired a new position in Michaels Companies in the 4th quarter valued at approximately $30,536,000. Mercer Global Advisors Inc. ADV acquired a new position in Michaels Companies in the 1st quarter valued at approximately $163,000. Meeder Asset Management Inc. increased its stake in Michaels Companies by 512.3% in the 1st quarter. Meeder Asset Management Inc. now owns 2,492 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 2,085 shares during the period. Finally, Highland Capital Management LLC acquired a new position in Michaels Companies in the 1st quarter valued at approximately $871,000.

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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Analyst Recommendations for Michaels Companies (NASDAQ:MIK)

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