Michaels Companies Inc (NASDAQ:MIK) Director Beryl Raff Acquires 6,700 Shares
Michaels Companies Inc (NASDAQ:MIK) Director Beryl Raff purchased 6,700 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $7.47 per share, with a total value of $50,049.00. Following the completion of the acquisition, the director now owns 30,993 shares of the company’s stock, valued at $231,517.71. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
MIK stock traded up $1.03 on Tuesday, reaching $10.07. 11,223,175 shares of the company’s stock were exchanged, compared to its average volume of 2,888,829. The stock has a fifty day moving average of $6.32 and a 200-day moving average of $9.61. The firm has a market cap of $1.56 billion, a PE ratio of 4.29, a P/E/G ratio of 0.58 and a beta of 1.06. Michaels Companies Inc has a twelve month low of $4.96 and a twelve month high of $18.04.
Michaels Companies (NASDAQ:MIK) last released its earnings results on Wednesday, September 4th. The specialty retailer reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. Michaels Companies had a negative return on equity of 23.40% and a net margin of 6.31%. Michaels Companies’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 earnings per share. On average, equities research analysts forecast that Michaels Companies Inc will post 2.37 EPS for the current fiscal year.
MIK has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Michaels Companies from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Bank of America restated an “underperform” rating and issued a $4.00 target price (down previously from $5.00) on shares of Michaels Companies in a research note on Tuesday, August 20th. Morgan Stanley set a $9.00 target price on shares of Michaels Companies and gave the company a “hold” rating in a report on Monday, June 17th. Zacks Investment Research downgraded shares of Michaels Companies from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Goldman Sachs Group started coverage on shares of Michaels Companies in a research note on Thursday, July 11th. They set a “neutral” rating and a $8.00 price target on the stock. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Michaels Companies has an average rating of “Hold” and a consensus target price of $8.91.
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.
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