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.
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.
Recommended Story: Return on Investment (ROI)
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.