Michaels Companies Inc (NASDAQ:MIK) has been given an average recommendation of “Hold” by the thirteen brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $10.17.

Several research analysts have weighed in on the company. Zacks Investment Research upgraded Michaels Companies from a “sell” rating to a “hold” rating and set a $12.00 price objective on the stock in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. raised their price target on Michaels Companies from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, August 31st. Telsey Advisory Group raised their price target on Michaels Companies from $6.00 to $10.00 and gave the stock a “market perform” rating in a research report on Friday, August 21st. Morgan Stanley raised their price target on Michaels Companies from $3.00 to $5.00 and gave the stock an “underweight” rating in a research report on Monday, June 8th. Finally, Loop Capital raised their price target on Michaels Companies from $8.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, September 4th.

A number of large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado boosted its stake in shares of Michaels Companies by 31.6% during the first quarter. Public Employees Retirement Association of Colorado now owns 17,282 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 4,153 shares in the last quarter. Maryland Capital Management acquired a new stake in shares of Michaels Companies during the first quarter valued at about $29,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Michaels Companies during the first quarter valued at about $29,000. Advisor Group Holdings Inc. boosted its stake in shares of Michaels Companies by 107.5% during the second quarter. Advisor Group Holdings Inc. now owns 4,167 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 2,159 shares in the last quarter. Finally, Globeflex Capital L P boosted its stake in shares of Michaels Companies by 115.0% during the first quarter. Globeflex Capital L P now owns 20,310 shares of the specialty retailer’s stock valued at $33,000 after purchasing an additional 10,864 shares in the last quarter.

MIK stock opened at $9.93 on Friday. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 4.92 and a beta of 3.04. The business’s fifty day moving average price is $9.24 and its two-hundred day moving average price is $5.41. Michaels Companies has a fifty-two week low of $1.00 and a fifty-two week high of $11.70.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings data on Thursday, September 3rd. The specialty retailer reported $0.30 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.38. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Michaels Companies had a negative return on equity of 14.84% and a net margin of 2.84%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 EPS. Equities research analysts expect that Michaels Companies will post 1.68 earnings per share for the current fiscal year.

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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Analyst Recommendations for Michaels Companies (NASDAQ:MIK)

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