Trader's Round Up: The Michaels Companies, Inc. (NASDAQ:MIK)
- Author: Zachary Reyes Mar 10, 2017,
Mar 10, 2017, 18:33
The brokerage now has a $28.00 price target on the stock. A company with a lower ratio, on the other hand, is usually an indication of poor current and future performance. Zacks Investment Research cut Michaels Companies from a hold rating to a strong sell rating in a research note on Wednesday, February 8th. Finally, Deutsche Bank AG lowered their target price on Michaels Companies from $30.00 to $28.00 and set a buy rating on the stock in a research note on Wednesday, December 7th. Bank of America Corp raised Michaels Companies from a neutral rating to a buy rating and set a $28.00 price target on the stock in a report on Wednesday.
Several analysts have released their opinion on The Michaels Companies, Inc.
12 analysts projected Price Targets for The Michaels Companies, Inc.
Michaels Companies (NASDAQ:MIK) traded up 0.41% during midday trading on Wednesday, reaching $22.17.
The company's stock now has 4.22 Billion in market capitalization. The standard deviation of the price stands at $3.78.The Michaels Companies, Inc. The firm has a 50-day moving average price of $20.57 and a 200-day moving average price of $22.65.
Michaels Companies (NASDAQ:MIK) last posted its earnings results on Tuesday, December 6th.
Following U.S. election volatility some analysts have updated their recommended target prices on shares of The Michaels Companies, Inc. Michaels Companies had a negative return on equity of 22.27% and a net margin of 7.15%. According to them, the median (average) EPS the company could deliver is 0.95/share. The company reported its last quarter on Jan 17. The company's stock had a trading volume of 968,274 shares.
"Michaels Companies Inc (MIK) Rating Reiterated by Guggenheim" was originally reported by BBNS and is the property of of BBNS.
Many analysts have provided their estimated foresights on The Michaels Companies, Inc.
In other Michaels Companies news, major shareholder Blackstone Management Associat sold 12,000,000 shares of Michaels Companies stock in a transaction dated Friday, December 16th.
In the transaction dated December 16, 2016, the great number of shares disposed came courtesy the 10% Owner; Blackstone Management Associat disposed a total of 12,000,000 shares at an average price of $22.04, amounting to approximately $264,480,000. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of institutional investors have recently added to or reduced their stakes in MIK. The disclosure for this sale can be found here. The Weekly and Monthly Volatility stands at 3.50% and 2.90%.
For the Current Quarter, the growth estimate for The Michaels Companies, Inc.is 8.3%, while for the Next Quarter the stock growth estimate is 11.8%. Barings LLC bought a new position in Michaels Companies during the fourth quarter worth $828,000.
Comparable store sales fell 1 percent in the fourth quarter, slightly better than the analyst expectation for a decline of 1.2 percent, according to FactSet. Bank of America Downgrades the company's stock to Neutral on 11/04/16 with no specific Price Target. Metropolitan Life Insurance Co. Also, there are 1 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.06 average brokerage recommendation. Fiera Capital Corp purchased a new position in Michaels Companies during the second quarter valued at approximately $23,207,000. The Michaels Companies, Inc. also owns Artistree, a manufacturer of custom and specialty framing merchandise, and Darice, a premier wholesale distributor in the gift and decor industry.