Michaels Companies (NASDAQ:MIK) Price Target Raised to $9.00

Michaels Companies (NASDAQ:MIK) had its price objective lifted by Wells Fargo & Company from $8.00 to $9.00 in a research report sent to investors on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the specialty retailer’s stock.

MIK has been the topic of a number of other reports. Credit Suisse Group upgraded shares of Michaels Companies from a neutral rating to an outperform rating and boosted their price target for the stock from $13.00 to $15.00 in a research report on Friday, September 4th. TheStreet upgraded shares of Michaels Companies from a d+ rating to a c rating in a research report on Thursday, September 3rd. Zacks Investment Research upgraded shares of Michaels Companies from a sell rating to a hold rating and set a $12.00 price target on the stock in a research report on Wednesday, September 2nd. Morgan Stanley boosted their price target on shares of Michaels Companies from $5.00 to $7.00 and gave the stock an underweight rating in a research report on Friday. They noted that the move was a valuation call. Finally, Loop Capital boosted their price target on shares of Michaels Companies from $20.00 to $25.00 and gave the stock a buy rating in a research report on Friday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Michaels Companies presently has an average rating of Hold and a consensus target price of $11.72.

Shares of NASDAQ MIK opened at $9.42 on Friday. The company’s 50-day simple moving average is $9.80 and its 200-day simple moving average is $5.72. Michaels Companies has a 52-week low of $1.00 and a 52-week high of $11.70. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 4.88 and a beta of 3.04.

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

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Michaels Companies by 99.0% in the 2nd quarter. FMR LLC now owns 8,420,508 shares of the specialty retailer’s stock valued at $59,533,000 after acquiring an additional 4,189,608 shares during the period. Vanguard Group Inc. raised its stake in shares of Michaels Companies by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 7,909,842 shares of the specialty retailer’s stock valued at $55,923,000 after acquiring an additional 31,151 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Michaels Companies by 344.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,207,475 shares of the specialty retailer’s stock valued at $29,747,000 after acquiring an additional 3,261,168 shares during the period. State Street Corp raised its stake in shares of Michaels Companies by 11.4% in the 1st quarter. State Street Corp now owns 3,476,316 shares of the specialty retailer’s stock valued at $5,632,000 after acquiring an additional 355,747 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Michaels Companies by 5.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,796,351 shares of the specialty retailer’s stock valued at $12,701,000 after acquiring an additional 94,920 shares during the period.

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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