Michaels Companies Inc (NASDAQ:MIK) was the target of unusually large options trading activity on Thursday. Investors purchased 5,472 call options on the company. This represents an increase of 2,974% compared to the typical daily volume of 178 call options.
Michaels Companies stock traded down $0.35 during midday trading on Friday, reaching $5.25. The company’s stock had a trading volume of 2,087,262 shares, compared to its average volume of 2,421,607. Michaels Companies has a fifty-two week low of $4.96 and a fifty-two week high of $20.81. The firm has a market capitalization of $860.45 million, a PE ratio of 2.23, a P/E/G ratio of 0.41 and a beta of 1.06. The stock’s 50 day simple moving average is $6.96 and its 200 day simple moving average is $10.23.
Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings results on Thursday, June 6th. The specialty retailer reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. Michaels Companies had a negative return on equity of 22.82% and a net margin of 6.34%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the business posted $0.39 earnings per share. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities analysts predict that Michaels Companies will post 2.34 EPS for the current year.
A number of brokerages have recently issued reports on MIK. Credit Suisse Group lowered shares of Michaels Companies from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $11.00 in a research report on Friday, June 7th. Deutsche Bank decreased their price target on Michaels Companies from $16.00 to $9.00 and set a “hold” rating for the company in a report on Friday, June 7th. Morgan Stanley set a $9.00 price target on Michaels Companies and gave the stock a “hold” rating in a report on Monday, June 17th. Goldman Sachs Group initiated coverage on Michaels Companies in a report on Thursday, July 11th. They set a “neutral” rating and a $8.00 price target for the company. Finally, Bank of America reaffirmed an “underperform” rating and set a $4.00 price target (down from $5.00) on shares of Michaels Companies in a report on Tuesday. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $10.64.
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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