Michaels Companies Sees Unusually Large Options Volume (MIK)
Michaels Companies Inc (NASDAQ:MIK) was the recipient of some unusual options trading activity on Tuesday. Investors bought 2,546 put options on the company. This represents an increase of approximately 2,004% compared to the average volume of 121 put options.
A number of brokerages recently issued reports on MIK. Credit Suisse Group reiterated a “buy” rating on shares of Michaels Companies in a research note on Thursday, August 9th. BidaskClub upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a research note on Monday, June 25th. JPMorgan Chase & Co. reiterated a “focus list” rating on shares of Michaels Companies in a research note on Thursday, June 21st. Zacks Investment Research cut shares of Michaels Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, Deutsche Bank dropped their price target on shares of Michaels Companies from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, August 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $22.22.
Michaels Companies stock opened at $16.89 on Wednesday. The company has a market capitalization of $2.78 billion, a P/E ratio of 7.78, a PEG ratio of 0.90 and a beta of 1.13. Michaels Companies has a 12-month low of $14.82 and a 12-month high of $27.87. The company has a quick ratio of 0.26, a current ratio of 1.48 and a debt-to-equity ratio of -1.59.
A number of institutional investors have recently added to or reduced their stakes in MIK. WP Advisors LLC purchased a new stake in Michaels Companies in the 2nd quarter worth approximately $113,000. Cerebellum GP LLC bought a new position in Michaels Companies in the 2nd quarter worth approximately $162,000. Itau Unibanco Holding S.A. bought a new position in Michaels Companies in the 2nd quarter worth approximately $170,000. We Are One Seven LLC bought a new position in Michaels Companies in the 3rd quarter worth approximately $180,000. Finally, State of Alaska Department of Revenue boosted its stake in Michaels Companies by 138.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,642 shares of the specialty retailer’s stock worth $187,000 after purchasing an additional 6,762 shares during the period.
About Michaels Companies
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.
Recommended Story: Beta
Receive News & Ratings for Michaels Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michaels Companies and related companies with MarketBeat.com's FREE daily email newsletter.