Michaels Companies Sees Unusually Large Options Volume (MIK)

Michaels Companies Inc (NASDAQ:MIK) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 2,992 call options on the stock. This is an increase of 1,292% compared to the typical volume of 215 call options.

Several equities research analysts recently weighed in on MIK shares. Zacks Investment Research downgraded Michaels Companies from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Morgan Stanley cut their price objective on Michaels Companies from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, October 11th. ValuEngine upgraded Michaels Companies from a “strong sell” rating to a “sell” rating in a research report on Monday, August 20th. Deutsche Bank cut their price objective on Michaels Companies from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, August 31st. Finally, BidaskClub upgraded Michaels Companies from a “hold” rating to a “buy” rating in a research report on Saturday, October 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $22.22.

A number of large investors have recently added to or reduced their stakes in MIK. FMR LLC increased its position in shares of Michaels Companies by 835.3% in the second quarter. FMR LLC now owns 2,431,302 shares of the specialty retailer’s stock valued at $46,609,000 after buying an additional 2,171,363 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Michaels Companies in the second quarter valued at $40,076,000. Tyvor Capital LLC increased its position in shares of Michaels Companies by 100.8% in the second quarter. Tyvor Capital LLC now owns 2,470,565 shares of the specialty retailer’s stock valued at $47,361,000 after buying an additional 1,240,426 shares in the last quarter. UBS Group AG increased its position in shares of Michaels Companies by 1,610.6% in the first quarter. UBS Group AG now owns 725,483 shares of the specialty retailer’s stock valued at $14,299,000 after buying an additional 683,072 shares in the last quarter. Finally, Sapience Investments LLC increased its position in shares of Michaels Companies by 70.2% in the second quarter. Sapience Investments LLC now owns 1,367,111 shares of the specialty retailer’s stock valued at $26,208,000 after buying an additional 563,754 shares in the last quarter.

NASDAQ:MIK opened at $16.68 on Thursday. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 7.70, a price-to-earnings-growth ratio of 0.90 and a beta of 1.13. The company has a debt-to-equity ratio of -1.59, a current ratio of 1.48 and a quick ratio of 0.26. Michaels Companies has a 1 year low of $14.82 and a 1 year high of $27.87.

Michaels Companies (NASDAQ:MIK) last released its quarterly earnings data on Thursday, August 30th. The specialty retailer reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Michaels Companies had a negative return on equity of 24.56% and a net margin of 6.31%. Michaels Companies’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 earnings per share. As a group, sell-side analysts anticipate that Michaels Companies will post 2.35 EPS for the current year.

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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