Michaels Companies’ (MIK) “Buy” Rating Reiterated at Loop Capital
Loop Capital restated their buy rating on shares of Michaels Companies (NASDAQ:MIK) in a research note released on Friday, The Fly reports. Loop Capital currently has a $10.00 target price on the specialty retailer’s stock.
Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Michaels Companies from $9.00 to $7.00 and set a neutral rating on the stock in a research report on Thursday, September 5th. Telsey Advisory Group decreased their target price on Michaels Companies from $10.00 to $7.00 and set a market perform rating for the company in a research report on Friday. ValuEngine lowered shares of Michaels Companies from a hold rating to a sell rating in a research note on Friday, November 1st. BidaskClub lowered shares of Michaels Companies from a sell rating to a strong sell rating in a report on Friday. Finally, Morgan Stanley set a $7.00 price objective on shares of Michaels Companies and gave the company a hold rating in a report on Monday, September 9th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $8.00.
Shares of Michaels Companies stock opened at $6.69 on Friday. The stock’s fifty day moving average is $8.85 and its two-hundred day moving average is $8.27. The company has a market capitalization of $1.04 billion, a PE ratio of 2.85, a price-to-earnings-growth ratio of 0.50 and a beta of 1.05. Michaels Companies has a 52 week low of $4.96 and a 52 week high of $16.62.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MIK. Meeder Asset Management Inc. increased its stake in Michaels Companies by 1,946.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 5,669 shares of the specialty retailer’s stock valued at $55,000 after purchasing an additional 5,392 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Michaels Companies by 54.8% during the second quarter. Bank of Montreal Can now owns 9,022 shares of the specialty retailer’s stock valued at $78,000 after buying an additional 3,194 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Michaels Companies in the 3rd quarter valued at $120,000. CLARET ASSET MANAGEMENT Corp acquired a new position in shares of Michaels Companies in the 3rd quarter valued at $129,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Michaels Companies in the 2nd quarter valued at $132,000.
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.
Read More: What Are Cryptocurrencies?
Receive News & Ratings for Michaels Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michaels Companies and related companies with MarketBeat.com's FREE daily email newsletter.