Michaels Companies (NASDAQ:MIK) Research Coverage Started at Goldman Sachs Group

Goldman Sachs Group started coverage on shares of Michaels Companies (NASDAQ:MIK) in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The firm issued a neutral rating and a $8.00 price target on the specialty retailer’s stock.

MIK has been the topic of a number of other reports. Credit Suisse Group upped their target price on shares of Beyond Meat from $70.00 to $125.00 in a research report on Friday, June 7th. Morgan Stanley began coverage on shares of in a research report on Monday, June 17th. They issued an equal weight rating and a GBX 215 ($2.81) price target on the stock. Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit from a sell rating to a hold rating in a research report on Thursday, May 23rd. Piper Jaffray Companies cut their price target on shares of Michaels Companies from $11.00 to $9.00 and set an underweight rating on the stock in a research report on Friday, March 15th. Finally, BidaskClub downgraded shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $11.82.

Michaels Companies stock opened at $8.48 on Thursday. Michaels Companies has a 1 year low of $7.39 and a 1 year high of $21.11. The firm has a market cap of $1.34 billion, a P/E ratio of 3.56, a PEG ratio of 0.59 and a beta of 1.10. The company’s 50-day simple moving average is $8.71.

Michaels Companies (NASDAQ:MIK) last released its earnings results on Thursday, June 6th. The specialty retailer reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. Michaels Companies had a net margin of 6.34% and a negative return on equity of 22.82%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue was down 5.3% compared to the same quarter last year. On average, analysts forecast that Michaels Companies will post 2.35 earnings per share for the current year.

Several large investors have recently made changes to their positions in the stock. FMR LLC raised its position in shares of Michaels Companies by 29.9% in the 1st quarter. FMR LLC now owns 2,699,700 shares of the specialty retailer’s stock valued at $30,831,000 after acquiring an additional 620,679 shares during the period. Dimensional Fund Advisors LP increased its stake in Michaels Companies by 22.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,434,311 shares of the specialty retailer’s stock worth $32,960,000 after purchasing an additional 448,448 shares in the last quarter. Norges Bank bought a new stake in Michaels Companies during the 4th quarter worth approximately $30,536,000. Reinhart Partners Inc. increased its stake in Michaels Companies by 11.8% during the 1st quarter. Reinhart Partners Inc. now owns 1,852,678 shares of the specialty retailer’s stock worth $21,158,000 after purchasing an additional 195,111 shares in the last quarter. Finally, Sapience Investments LLC increased its stake in Michaels Companies by 9.2% during the 1st quarter. Sapience Investments LLC now owns 1,641,795 shares of the specialty retailer’s stock worth $18,749,000 after purchasing an additional 137,655 shares in the last quarter.

Michaels Companies Company Profile

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: Asset Allocation

Analyst Recommendations for Michaels Companies (NASDAQ:MIK)

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.