Michaels Companies (NASDAQ:MIK) Earns Neutral Rating from Analysts at Goldman Sachs Group

Goldman Sachs Group assumed coverage on shares of Michaels Companies (NASDAQ:MIK) in a research report released 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 subject of a number of other reports. Credit Suisse Group increased their target price on Beyond Meat from $70.00 to $125.00 in a report on Friday, June 7th. Zacks Investment Research raised Investors Real Estate Trust Reit from a sell rating to a hold rating in a report on Thursday, May 23rd. Piper Jaffray Companies dropped their price target on Michaels Companies from $11.00 to $9.00 and set an underweight rating for the company in a report on Friday, March 15th. BidaskClub cut Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, July 9th. Finally, Telsey Advisory Group cut Michaels Companies from an outperform rating to a market perform rating and dropped their price target for the company from $17.00 to $9.00 in a report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $11.64.

Shares of MIK stock opened at $8.48 on Thursday. The stock has a 50 day moving average price of $8.71. Michaels Companies has a 12 month low of $7.39 and a 12 month high of $21.11. The company has a market cap of $1.34 billion, a P/E ratio of 3.61, a P/E/G ratio of 0.59 and a beta of 1.10.

Michaels Companies (NASDAQ:MIK) last issued its earnings results on Thursday, June 6th. The specialty retailer reported $0.31 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.31. Michaels Companies had a negative return on equity of 22.82% and a net margin of 6.34%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the firm posted $0.39 EPS. Michaels Companies’s quarterly revenue was down 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Michaels Companies will post 2.35 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its position in shares of Michaels Companies by 512.3% in the 1st quarter. Meeder Asset Management Inc. now owns 2,492 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 2,085 shares during the last quarter. AlphaOne Investment Services LLC lifted its holdings in Michaels Companies by 126.1% during the first quarter. AlphaOne Investment Services LLC now owns 3,211 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 1,791 shares in the last quarter. Royce & Associates LP lifted its holdings in Michaels Companies by 56.3% during the first quarter. Royce & Associates LP now owns 3,911 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 1,408 shares in the last quarter. Acadian Asset Management LLC bought a new position in Michaels Companies during the fourth quarter worth about $64,000. Finally, WP Advisors LLC bought a new position in Michaels Companies during the first quarter worth about $65,000.

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.

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Analyst Recommendations for Michaels Companies (NASDAQ:MIK)

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