How Negative is Piper Jaffray on Michaels Companies (NASDAQ:MIK) Following Today’s Downgrade? The Target is $16.0

January 13, 2018 - By Hazel Jackson

  How Negative is Piper Jaffray on Michaels Companies (NASDAQ:MIK) Following Today’s Downgrade? The Target is $16.0

Investors sentiment decreased to 1.36 in 2017 Q3. Its down 0.45, from 1.81 in 2017Q2. It fall, 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.

467,380 are held by Thrivent Fincl For Lutherans. Pinebridge Limited Partnership holds 10,360 shares or 0.01% of its portfolio. Commonwealth Of Pennsylvania Public School Empls Retrmt stated it has 0.01% of its portfolio in The Michaels Companies, Inc. (NASDAQ:MIK). Moreover, Nuveen Asset Mgmt Ltd Liability has 0% invested in The Michaels Companies, Inc. (NASDAQ:MIK). Ubs Asset Mngmt Americas stated it has 0% in The Michaels Companies, Inc. (NASDAQ:MIK). Fuller And Thaler Asset Incorporated invested in 0% or 4,200 shares. State Treasurer State Of Michigan reported 0.01% in The Michaels Companies, Inc. (NASDAQ:MIK). Walleye Trading Limited Liability Corporation stated it has 102,196 shares. Advsrs Asset Mgmt invested in 0% or 2,900 shares. Blackstone Gru L P holds 20.39 million shares or 2.69% of its portfolio. Ahl Llp holds 0.07% or 170,989 shares in its portfolio. Suntrust Banks Inc reported 80,572 shares. Macquarie Group Limited has 1,200 shares. 100,000 are owned by Shellback L P. Paloma Prns Management Com reported 55,163 shares or 0.02% of all its holdings.

Michaels Companies (NASDAQ:MIK) Receives a Downgrade

Piper Jaffray has downgraded shares of Michaels Companies (NASDAQ:MIK) to a Sell rating in an analyst report issued to investors and clients on 27 October. The firm now has a $16.0 PT on shares. Piper Jaffray’s PT gives a possibly downside of -36.08 % from the last close price of the stock.

Investors sentiment decreased to 1.36 in 2017 Q3. Its down 0.45, from 1.81 in 2017Q2. It fall, 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.

467,380 are held by Thrivent Fincl For Lutherans. Pinebridge Limited Partnership holds 10,360 shares or 0.01% of its portfolio. Commonwealth Of Pennsylvania Public School Empls Retrmt stated it has 0.01% of its portfolio in The Michaels Companies, Inc. (NASDAQ:MIK). Moreover, Nuveen Asset Mgmt Ltd Liability has 0% invested in The Michaels Companies, Inc. (NASDAQ:MIK). Ubs Asset Mngmt Americas stated it has 0% in The Michaels Companies, Inc. (NASDAQ:MIK). Fuller And Thaler Asset Incorporated invested in 0% or 4,200 shares. State Treasurer State Of Michigan reported 0.01% in The Michaels Companies, Inc. (NASDAQ:MIK). Walleye Trading Limited Liability Corporation stated it has 102,196 shares. Advsrs Asset Mgmt invested in 0% or 2,900 shares. Blackstone Gru L P holds 20.39 million shares or 2.69% of its portfolio. Ahl Llp holds 0.07% or 170,989 shares in its portfolio. Suntrust Banks Inc reported 80,572 shares. Macquarie Group Limited has 1,200 shares. 100,000 are owned by Shellback L P. Paloma Prns Management Com reported 55,163 shares or 0.02% of all its holdings.

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. The firm has “Buy” rating given on Friday, March 18 by Goldman Sachs. The firm has “Neutral” rating given on Friday, December 4 by Macquarie Research. Goldman Sachs downgraded The Michaels Companies, Inc. (NASDAQ:MIK) rating on Friday, May 6. Goldman Sachs has “Neutral” rating and $30 target. Piper Jaffray maintained The Michaels Companies, Inc. (NASDAQ:MIK) on Friday, September 29 with “Hold” rating. The company was upgraded on Thursday, January 21 by Goldman Sachs. The rating was upgraded by Credit Suisse to “Outperform” on Tuesday, September 6. J.P. Morgan upgraded the stock to “Buy” rating in Monday, July 24 report. The stock has “Market Perform” rating by Telsey Advisory Group on Wednesday, December 7. The stock of The Michaels Companies, Inc. (NASDAQ:MIK) has “Buy” rating given on Monday, October 16 by SunTrust.

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 earnings per share, 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 earnings per share 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.