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Michaels Stores (NASDAQ:MIK) Rating Decreased by Analysts at Deutsche Bank to Hold with $25.0 Target

Deutsche Securities Analyst Rating Change Michaels Stores NASDAQ:MIK

Michaels Stores (NASDAQ:MIK) Change of Rating

Deutsche Bank has downgraded Michaels Stores (NASDAQ:MIK) stock to Hold in a research note issued to investors and clients on Tuesday morning, and has set a 12-month target at $25.0. MIK’s old rating was Buy.

According to data compiled by Thomson Reuters, Michaels Stores (NASDAQ:MIK)’s stock is covered by 13 equity analysts across the Street, with 0 analysts giving it a Sell rating, 10 a Buy rating, while 4 consider it a Hold. The 12-month consensus target price for the stock is $30.85, which reflects an upside potential of 61.10% over the current price.

Institutional Ownership

Bain Capital Investors Llc had the largest stake with ownership of 52.80 million shares as of Q2 2015 for 22.99% of the stock exposure. Blackstone Group L.P. is another bull as the investment manager who is possessing 50.39 million shares of Michaels Stores or 7.04% of their stock exposure. Furthermore, Tyvor Capital Llc have 6.72% of their stock exposure invested in the company for 1.06 million shares. The New York-based fund Sachem Head Capital Management Lp revealed it had purchased so far a stake worth about 3.54% of the investment manager’s stock portfolio in Michaels Stores. The Wisconsin-based fund Reinhart Partners Inc. is also positive about the stock, possessing 2.97 million shares or 2.53% of their stock exposure.

Michaels Stores (NASDAQ:MIK) Profile

The Michaels Companies, Inc. (Michaels) is an arts and crafts specialty retailer in North America. The Company’s segments include Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s and Darice. As of January 28, 2017, the Company operated 1,223 Michaels retail stores in 49 states and Canada, with approximately 18,000 average square feet of selling space per store.

Michaels Stores (NASDAQ:MIK) traded down -9.37% on 12 December, hitting $19.15. A total of 1.93 million shares of the company’s stock traded hands. This is down from average of 2.21 million shares. Michaels Stores has a 52 week low of $17.25 and a 52 week high of $25.57. The company has a market cap of $3.47 billion and a P/E ratio of 10.11.

Get the latest Michaels Stores (NASDAQ:MIK) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Michaels Stores (NASDAQ:MIK) Rating Decreased by Analysts at Deutsche Bank to Hold with $25.0 Target appeared first on Octafinance.

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Michaels Stores (NASDAQ:MIK) Rating Decreased by Analysts at Deutsche Bank to Hold with $25.0 Target


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