Zacks Investment Research upgraded shares of Michaels Companies (NASDAQ:MIK) from a hold rating to a buy rating in a research note published on Saturday morning. The brokerage currently has $30.00 price objective on the specialty retailer’s stock.

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 d├ęcor, 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 analysts have also recently issued reports on MIK. BidaskClub cut Michaels Companies from a buy rating to a hold rating in a research report on Thursday, January 11th. Raymond James Financial reissued a hold rating on shares of Michaels Companies in a research report on Saturday, December 2nd. Telsey Advisory Group raised Michaels Companies from a market perform rating to an outperform rating and upped their target price for the company from $23.00 to $32.00 in a research report on Thursday, January 25th. Goldman Sachs Group raised Michaels Companies from a neutral rating to a buy rating in a research report on Tuesday, January 16th. Finally, ValuEngine cut Michaels Companies from a buy rating to a hold rating in a research report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Michaels Companies has a consensus rating of Buy and an average target price of $26.00.

Michaels Companies (NASDAQ MIK) opened at $25.77 on Friday. The stock has a market capitalization of $4,670.00, a PE ratio of 13.08, a PEG ratio of 0.84 and a beta of 0.99. Michaels Companies has a 1 year low of $17.25 and a 1 year high of $27.87. 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 (NASDAQ:MIK) last released its quarterly earnings data on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Michaels Companies had a negative return on equity of 22.16% and a net margin of 7.33%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS. equities research analysts predict that Michaels Companies will post 2.18 earnings per share for the current year.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. APG Asset Management N.V. raised its stake in shares of Michaels Companies by 1,088.0% during the 4th quarter. APG Asset Management N.V. now owns 1,212,900 shares of the specialty retailer’s stock worth $24,434,000 after buying an additional 1,110,800 shares in the last quarter. State Street Corp raised its stake in shares of Michaels Companies by 15.5% during the 2nd quarter. State Street Corp now owns 5,872,512 shares of the specialty retailer’s stock worth $108,763,000 after buying an additional 787,225 shares in the last quarter. BlackRock Inc. raised its stake in shares of Michaels Companies by 7.1% during the 2nd quarter. BlackRock Inc. now owns 8,752,674 shares of the specialty retailer’s stock worth $162,099,000 after buying an additional 583,585 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Michaels Companies by 966.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 572,700 shares of the specialty retailer’s stock worth $12,296,000 after buying an additional 518,984 shares in the last quarter. Finally, Ingalls & Snyder LLC purchased a new position in shares of Michaels Companies during the 3rd quarter worth approximately $10,316,000.

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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.

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