Michaels Companies (MIK) Price Target Cut to $26.00

Michaels Companies (NASDAQ:MIK) had its target price reduced by research analysts at Stephens from $30.00 to $26.00 in a report released on Friday. The brokerage currently has an “in-line” rating on the specialty retailer’s stock. Stephens’ target price would indicate a potential upside of 36.91% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Michaels Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Deutsche Bank downgraded shares of Michaels Companies from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research report on Tuesday, December 12th. Telsey Advisory Group raised shares of Michaels Companies from a “market perform” rating to an “outperform” rating and raised their price target for the company from $23.00 to $32.00 in a research report on Thursday, January 25th. ValuEngine downgraded shares of Michaels Companies from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, BidaskClub raised shares of Michaels Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Michaels Companies presently has an average rating of “Hold” and a consensus price target of $24.70.

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Michaels Companies (MIK) opened at $18.99 on Friday. Michaels Companies has a one year low of $17.25 and a one year high of $27.87. The firm has a market cap of $3,555.87, a P/E ratio of 8.96, a price-to-earnings-growth ratio of 0.66 and a beta of 1.14. The company has a current ratio of 1.75, a quick ratio of 0.25 and a debt-to-equity ratio of -1.79.

Michaels Companies (NASDAQ:MIK) last announced its earnings results on Thursday, March 22nd. The specialty retailer reported $1.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.02). Michaels Companies had a net margin of 7.28% and a negative return on equity of 24.07%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the business posted $0.96 EPS. Michaels Companies’s revenue for the quarter was up 8.0% on a year-over-year basis. equities research analysts expect that Michaels Companies will post 2.47 EPS for the current fiscal year.

In other Michaels Companies news, CEO Carl Rubin sold 220,930 shares of Michaels Companies stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $27.15, for a total value of $5,998,249.50. Following the completion of the sale, the chief executive officer now owns 444,796 shares of the company’s stock, valued at approximately $12,076,211.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. bought a new stake in Michaels Companies in the 4th quarter worth approximately $166,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Michaels Companies by 40.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,792 shares of the specialty retailer’s stock worth $188,000 after purchasing an additional 2,236 shares during the period. We Are One Seven LLC bought a new stake in Michaels Companies in the 4th quarter worth approximately $197,000. Hikari Power Ltd bought a new stake in Michaels Companies in the 4th quarter worth approximately $204,000. Finally, Cetera Advisor Networks LLC bought a new stake in Michaels Companies in the 4th quarter worth approximately $208,000.

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Michaels Companies Company Profile

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 Michaels Companies (NASDAQ:MIK)

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