The Michaels Companies, Inc. (MIK) Rating Lowered to Strong Sell at BidaskClub

The Michaels Companies, Inc. (NASDAQ:MIK) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.

A number of other research firms also recently weighed in on MIK. Zacks Investment Research downgraded The Michaels Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. ValuEngine raised The Michaels Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Piper Jaffray Companies downgraded The Michaels Companies from a “neutral” rating to an “underweight” rating in a research report on Friday, October 27th. Bank of America Corporation reissued a “buy” rating and set a $29.00 target price on shares of The Michaels Companies in a research report on Tuesday, September 5th. Finally, J P Morgan Chase & Co raised The Michaels Companies from a “neutral” rating to an “overweight” rating and set a $23.00 target price on the stock in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $24.29.

Shares of The Michaels Companies (NASDAQ:MIK) traded up $0.01 during trading hours on Thursday, hitting $18.57. The stock had a trading volume of 1,261,600 shares, compared to its average volume of 2,142,959. The firm has a market capitalization of $3,359.10, a P/E ratio of 9.62, a P/E/G ratio of 0.84 and a beta of 0.86. The Michaels Companies has a 12 month low of $17.25 and a 12 month high of $25.57. The company has a current ratio of 1.44, a quick ratio of 0.26 and a debt-to-equity ratio of -1.53.

The Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. The Michaels Companies had a negative return on equity of 22.53% and a net margin of 7.29%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.17 earnings per share. research analysts predict that The Michaels Companies will post 2.14 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in MIK. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in The Michaels Companies by 11.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,556 shares of the specialty retailer’s stock worth $103,000 after purchasing an additional 549 shares during the period. Mckinley Capital Management LLC Delaware bought a new position in The Michaels Companies during the second quarter worth about $103,000. Pinebridge Investments L.P. bought a new position in The Michaels Companies during the second quarter worth about $124,000. Pacer Advisors Inc. lifted its stake in The Michaels Companies by 5.0% during the second quarter. Pacer Advisors Inc. now owns 8,028 shares of the specialty retailer’s stock worth $149,000 after purchasing an additional 383 shares during the period. Finally, LS Investment Advisors LLC raised its stake in shares of The Michaels Companies by 24.6% in the second quarter. LS Investment Advisors LLC now owns 8,825 shares of the specialty retailer’s stock valued at $163,000 after acquiring an additional 1,745 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

About The 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.

Analyst Recommendations for The Michaels Companies (NASDAQ:MIK)

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