Piper Jaffray Loses Some Confidence in Michaels Companies (NASDAQ:MIK). Will Other Analysts Follow?

January 13, 2018 - By Michael Collier

  Piper Jaffray Loses Some Confidence in Michaels Companies (NASDAQ:MIK). Will Other Analysts Follow?

Investors sentiment decreased to 1.36 in 2017 Q3. Its down 0.45, from 1.81 in 2017Q2. It is negative, as 27 investors sold The Michaels Companies, Inc. shares while 63 reduced holdings. 42 funds opened positions while 80 raised stakes. 187.41 million shares or 1.58% less from 190.43 million shares in 2017Q2 were reported.

Winfield Assocs Incorporated holds 75 shares. Quantbot Tech L P owns 26,859 shares. State Treasurer State Of Michigan stated it has 41,500 shares. Retirement Of Alabama stated it has 0.02% in The Michaels Companies, Inc. (NASDAQ:MIK). Clinton Grp Incorporated, a New York-based fund reported 10,246 shares. American Interest Gp Inc holds 0.02% or 225,858 shares in its portfolio. Nuveen Asset Ltd invested 0% of its portfolio in The Michaels Companies, Inc. (NASDAQ:MIK). 829,366 are held by Goldman Sachs Gp. Fincl Bank Of Montreal Can invested 0.02% in The Michaels Companies, Inc. (NASDAQ:MIK). Jefferies Grp Inc Ltd Liability Company stated it has 101 shares. Blackrock stated it has 9.01M shares. Hightower Advsr Ltd Com invested in 122,925 shares. Old Mutual Global (Uk) Limited stated it has 0.03% of its portfolio in The Michaels Companies, Inc. (NASDAQ:MIK). Macquarie Group Inc Limited has 1,200 shares for 0% of their portfolio. Public Employees Retirement Sys Of Ohio has 0.01% invested in The Michaels Companies, Inc. (NASDAQ:MIK) for 44,948 shares.

Michaels Companies (NASDAQ:MIK) Receives a Downgrade

Piper Jaffray has issued an update for Michaels Companies (NASDAQ:MIK) shares with a new “Sell” rating in an analyst report issued to clients on Friday, 27 October. Their target on the stock is now $16.0.

Investors sentiment decreased to 1.36 in 2017 Q3. Its down 0.45, from 1.81 in 2017Q2. It is negative, as 27 investors sold The Michaels Companies, Inc. shares while 63 reduced holdings. 42 funds opened positions while 80 raised stakes. 187.41 million shares or 1.58% less from 190.43 million shares in 2017Q2 were reported.

Winfield Assocs Incorporated holds 75 shares. Quantbot Tech L P owns 26,859 shares. State Treasurer State Of Michigan stated it has 41,500 shares. Retirement Of Alabama stated it has 0.02% in The Michaels Companies, Inc. (NASDAQ:MIK). Clinton Grp Incorporated, a New York-based fund reported 10,246 shares. American Interest Gp Inc holds 0.02% or 225,858 shares in its portfolio. Nuveen Asset Ltd invested 0% of its portfolio in The Michaels Companies, Inc. (NASDAQ:MIK). 829,366 are held by Goldman Sachs Gp. Fincl Bank Of Montreal Can invested 0.02% in The Michaels Companies, Inc. (NASDAQ:MIK). Jefferies Grp Inc Ltd Liability Company stated it has 101 shares. Blackrock stated it has 9.01M shares. Hightower Advsr Ltd Com invested in 122,925 shares. Old Mutual Global (Uk) Limited stated it has 0.03% of its portfolio in The Michaels Companies, Inc. (NASDAQ:MIK). Macquarie Group Inc Limited has 1,200 shares for 0% of their portfolio. Public Employees Retirement Sys Of Ohio has 0.01% invested in The Michaels Companies, Inc. (NASDAQ:MIK) for 44,948 shares.

The Michaels Companies, Inc. (NASDAQ:MIK) Ratings Coverage

Among 15 analysts covering Michaels Companies Inc (NASDAQ:MIK), 8 have Buy rating, 2 Sell and 5 Hold. Therefore 53% are positive. Michaels Companies Inc has $32 highest and $16.0 lowest target. $26.18’s average target is 4.59% above currents $25.03 stock price. Michaels Companies Inc had 31 analyst reports since August 25, 2015 according to SRatingsIntel. PiperJaffray downgraded The Michaels Companies, Inc. (NASDAQ:MIK) on Friday, October 27 to “Underweight” rating. On Monday, March 27 the stock rating was downgraded by PiperJaffray to “Neutral”. Telsey Advisory Group maintained the stock with “Market Perform” rating in Wednesday, December 7 report. The firm has “Equal-Weight” rating by Morgan Stanley given on Monday, March 7. The stock of The Michaels Companies, Inc. (NASDAQ:MIK) has “Sell” rating given on Friday, October 27 by Piper Jaffray. The firm has “Buy” rating by Guggenheim given on Wednesday, January 3. As per Wednesday, December 7, the company rating was downgraded by Raymond James. On Monday, July 24 the stock rating was upgraded by JP Morgan to “Overweight”. The stock has “Buy” rating by Suntrust Robinson on Tuesday, August 25. Deutsche Bank downgraded The Michaels Companies, Inc. (NASDAQ:MIK) on Tuesday, December 12 to “Hold” rating.

The stock increased 1.01% or $0.25 during the last trading session, reaching $25.03. About 726,076 shares traded. The Michaels Companies, Inc. (NASDAQ:MIK) has declined 29.62% since January 13, 2017 and is downtrending. It has underperformed by 46.32% the S&P500.

Analysts await The Michaels Companies, Inc. (NASDAQ:MIK) to report earnings on March, 6. They expect $1.18 EPS, up 22.92 % or $0.22 from last year’s $0.96 per share. MIK’s profit will be $213.89 million for 5.30 P/E if the $1.18 EPS becomes a reality. After $0.44 actual EPS reported by The Michaels Companies, Inc. for the previous quarter, Wall Street now forecasts 168.18 % EPS growth.

The Michaels Companies, Inc. owns and operates arts and crafts specialty retail stores in North America. The company has market cap of $4.54 billion. It operates Michaels stores that offer approximately 33,000 stock-keeping units in crafts, home decor and seasonal, framing, and paper crafting; and Aaron Brothers stores, which offer approximately 5,900 SKUs, including photo frames, a line of ready-made frames, art prints, framed art, art supplies, and custom framing. It has a 12.55 P/E ratio. The firm also operates Pat CatanÂ’s stores that provide approximately 53,000 SKUs, including an assortment of kids craft items, fine art supplies, yarn, floral supplies, scrapbooking materials, home decor, bakeware, and wedding related merchandise.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.




Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: