Zacks Investment Research lowered shares of Michaels Companies (NASDAQ:MIK) from a buy rating to a hold rating in a report published on Tuesday morning.

According to Zacks, “The Michaels Companies, Inc. is a specialty retailer of arts and crafts. The Company’s stores offer stock-keeping units in arts, crafts, scrapbooking, floral, framing, home décor, seasonal offerings, and children’s hobbies. It produces 11 exclusive private brands including Recollections(R), Studio Decor(R), Bead Landing(R), Creatology(R), Ashland(R), Celebrate It(R), Art Minds(R), Artist’s Loft(R), Craft Smart(R), Loops & Threads(R) and Imagin8(R). The Michaels Companies, Inc. is based in Irving, Texas. “

A number of other brokerages have also recently weighed in on MIK. Bank of America reissued a buy rating and set a $29.00 price objective on shares of Michaels Companies in a report on Tuesday, September 5th. ValuEngine cut Michaels Companies from a buy rating to a hold rating in a report on Friday, September 1st. BidaskClub raised Michaels Companies from a hold rating to a buy rating in a report on Thursday, September 28th. Raymond James Financial reissued a hold rating on shares of Michaels Companies in a report on Saturday. Finally, Piper Jaffray Companies set a $18.00 price objective on Michaels Companies and gave the company a hold rating in a report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $24.00.

Shares of Michaels Companies (NASDAQ MIK) traded up $0.25 on Tuesday, hitting $21.40. The stock had a trading volume of 2,630,400 shares, compared to its average volume of 2,205,900. The company has a market cap of $3,833.41, a P/E ratio of 10.74, a PEG ratio of 0.95 and a beta of 0.92. The company has a current ratio of 1.39, a quick ratio of 0.25 and a debt-to-equity ratio of -1.56. Michaels Companies has a 12-month low of $17.25 and a 12-month high of $24.48.

Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings results on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. The firm 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 company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the company posted $0.40 EPS. equities research analysts expect that Michaels Companies will post 2.16 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Michaels Companies by 11.0% in the 2nd 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 purchased a new position in Michaels Companies in the 2nd quarter worth approximately $103,000. Pinebridge Investments L.P. purchased a new position in Michaels Companies in the 2nd quarter worth approximately $124,000. Pacer Advisors Inc. increased its stake in Michaels Companies by 5.0% in the 2nd 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 increased its stake in Michaels Companies by 24.6% in the 2nd quarter. LS Investment Advisors LLC now owns 8,825 shares of the specialty retailer’s stock worth $163,000 after purchasing an additional 1,745 shares during the period.

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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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