Michaels Companies Inc (NASDAQ:MIK) saw a significant growth in short interest in June. As of June 30th, there was short interest totalling 23,400,500 shares, a growth of 9.6% from the May 30th total of 21,358,200 shares. Approximately 27.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,670,000 shares, the short-interest ratio is presently 8.8 days.
Shares of MIK opened at $8.60 on Tuesday. The stock’s 50-day moving average is $8.64. The firm has a market capitalization of $1.34 billion, a PE ratio of 3.66, a PEG ratio of 0.59 and a beta of 1.10. Michaels Companies has a 12 month low of $7.39 and a 12 month high of $21.11.
Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings data on Thursday, June 6th. The specialty retailer reported $0.31 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.31. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Michaels Companies had a negative return on equity of 22.82% and a net margin of 6.34%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, equities research analysts expect that Michaels Companies will post 2.35 EPS for the current fiscal year.
MIK has been the topic of several analyst reports. Deutsche Bank set a $261.00 price objective on Vail Resorts and gave the stock a “buy” rating in a report on Friday, June 7th. Morgan Stanley initiated coverage on in a report on Monday, June 17th. They set an “equal weight” rating and a GBX 215 ($2.81) price objective on the stock. Bank of America raised their price objective on Altria Group from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. BidaskClub cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, Credit Suisse Group lifted their target price on Beyond Meat from $70.00 to $125.00 in a report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.64.
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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