Michaels Companies (MIK) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of Michaels Companies (NASDAQ:MIK) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

MIK has been the topic of a number of other research reports. Telsey Advisory Group raised shares of Michaels Companies from a market perform rating to an outperform rating and lifted their target price for the company from $23.00 to $32.00 in a research note on Thursday, January 25th. Zacks Investment Research raised shares of Michaels Companies from a hold rating to a buy rating and set a $22.00 target price on the stock in a research note on Wednesday, November 29th. Deutsche Bank lifted their target price on shares of Michaels Companies from $24.00 to $25.00 and gave the company a buy rating in a research note on Monday, March 19th. Raymond James Financial reaffirmed a hold rating on shares of Michaels Companies in a research note on Saturday, December 2nd. Finally, Piper Jaffray Companies reaffirmed a sell rating and set a $18.00 target price on shares of Michaels Companies in a research note on Tuesday, March 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Michaels Companies has an average rating of Hold and a consensus target price of $24.70.

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Shares of Michaels Companies stock opened at $18.99 on Thursday. The firm has a market cap of $3,454.91, a PE ratio of 8.96, a PEG ratio of 0.64 and a beta of 1.14. The company has a debt-to-equity ratio of -1.79, a quick ratio of 0.25 and a current ratio of 1.75. Michaels Companies has a 52 week low of $17.25 and a 52 week high of $27.87.

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 analysts’ consensus estimates of $1.21 by ($0.02). The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. Michaels Companies had a net margin of 7.28% and a negative return on equity of 24.07%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 EPS. sell-side analysts forecast that Michaels Companies will post 2.46 earnings per share for the current fiscal year.

In related news, CEO Carl Rubin sold 220,930 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $27.15, for a total transaction of $5,998,249.50. Following the sale, the chief executive officer now owns 444,796 shares of the company’s stock, valued at $12,076,211.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

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

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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.

Analyst Recommendations for Michaels Companies (NASDAQ:MIK)

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