Michaels Companies (MIK) Downgraded by ValuEngine
ValuEngine downgraded shares of Michaels Companies (NASDAQ:MIK) from a sell rating to a strong sell rating in a report released on Sunday morning.
MIK has been the subject of several other reports. Telsey Advisory Group decreased their price objective on shares of Michaels Companies from $26.00 to $23.00 and set an outperform rating for the company in a report on Friday, June 15th. JPMorgan Chase & Co. reiterated a focus list rating on shares of Michaels Companies in a report on Thursday, June 21st. BidaskClub cut shares of Michaels Companies from a buy rating to a hold rating in a report on Tuesday, June 19th. Zacks Investment Research upgraded shares of Michaels Companies from a sell rating to a hold rating in a report on Thursday, May 31st. Finally, Credit Suisse Group reiterated a buy rating on shares of Michaels Companies in a report on Thursday, August 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $23.80.
Michaels Companies stock opened at $20.50 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.79 and a debt-to-equity ratio of -1.82. The company has a market capitalization of $3.76 billion, a PE ratio of 9.45, a P/E/G ratio of 1.16 and a beta of 1.24. Michaels Companies has a 12-month low of $17.66 and a 12-month high of $27.87.
A number of large investors have recently modified their holdings of MIK. WP Advisors LLC bought a new stake in Michaels Companies during the second quarter worth approximately $113,000. Cerebellum GP LLC bought a new stake in Michaels Companies during the second quarter worth approximately $162,000. Itau Unibanco Holding S.A. bought a new stake in Michaels Companies during the second quarter worth approximately $170,000. Verition Fund Management LLC bought a new stake in Michaels Companies during the first quarter worth approximately $205,000. Finally, Atria Investments LLC bought a new stake in Michaels Companies during the second quarter worth approximately $256,000.
About Michaels Companies
The Michaels Companies, Inc owns and operates arts and crafts specialty retail stores for Makers and do-it-yourself home decorators in North America. It operates Michaels stores that offer approximately 45,000 stock-keeping units (SKUs) in crafts, home decor and seasonal, framing, and paper crafting; and Aaron Brothers stores, which offer approximately 5,600 SKUs, including photo frames, a line of ready-made frames, art prints, framed art, art supplies, and custom framing services.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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