Morgan Stanley set a $7.00 price objective on Michaels Companies (NASDAQ:MIK) in a research report released on Monday, TipRanks reports. The brokerage currently has a hold rating on the specialty retailer’s stock.

A number of other analysts have also recently issued reports on MIK. BidaskClub upgraded Michaels Companies from a strong sell rating to a sell rating in a research report on Saturday. Loop Capital set a $15.00 target price on Michaels Companies and gave the stock a buy rating in a research report on Friday, July 12th. Zacks Investment Research downgraded shares of Michaels Companies from a buy rating to a hold rating in a research note on Thursday, May 23rd. Goldman Sachs Group began coverage on shares of Michaels Companies in a research note on Thursday, July 11th. They set a neutral rating and a $8.00 price target on the stock. Finally, Bank of America reissued an underperform rating and issued a $4.00 price target (down previously from $5.00) on shares of Michaels Companies in a report on Tuesday, August 20th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $8.73.

MIK stock traded down $0.33 during trading on Monday, reaching $9.74. 11,803,139 shares of the stock were exchanged, compared to its average volume of 2,939,808. Michaels Companies has a twelve month low of $4.96 and a twelve month high of $18.04. The company has a market capitalization of $1.40 billion, a P/E ratio of 4.14, a price-to-earnings-growth ratio of 0.68 and a beta of 1.06. The stock has a 50 day simple moving average of $6.37 and a 200-day simple moving average of $9.59.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings results on Wednesday, September 4th. The specialty retailer reported $0.19 EPS for the quarter, beating the consensus estimate of $0.14 by $0.05. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Michaels Companies had a negative return on equity of 23.40% and a net margin of 6.31%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS. Equities research analysts expect that Michaels Companies will post 2.37 EPS for the current fiscal year.

In related news, Director Beryl Raff bought 6,700 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $7.47 per share, with a total value of $50,049.00. Following the acquisition, the director now owns 30,993 shares in the company, valued at approximately $231,517.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.51% of the company’s stock.

Several large investors have recently modified their holdings of MIK. AlphaOne Investment Services LLC grew its position in Michaels Companies by 126.1% during the 1st 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 during the last quarter. Royce & Associates LP increased its holdings in Michaels Companies by 56.3% during the 1st quarter. Royce & Associates LP now owns 3,911 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 1,408 shares in the last quarter. Marshall Wace North America L.P. bought a new position in Michaels Companies in the 1st quarter valued at $102,000. Bank of Montreal Can raised its position in Michaels Companies by 54.8% in the 2nd quarter. Bank of Montreal Can now owns 9,022 shares of the specialty retailer’s stock valued at $78,000 after purchasing an additional 3,194 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in Michaels Companies in the 1st quarter valued at $126,000.

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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