The Michaels Companies, Inc. (NASDAQ:MIK) Assigned A Consensus Outperform Rating
The Michaels Companies, Inc. (NASDAQ:MIK) stock is presently standing at about $22.04 and lots of equity research firms seem to have a target price set on the stock. The median one-year price target of 13 analysts covering the company is $26.00, which suggests the stock could still rise over 15 percent. The highest analyst price target is $31.00, which implies a rally of 59 percent. And a quick view of analyst notes show that 6 are rating the stock a buy while 2 rate MIK a strong buy. There are 7 equity research firms advocating a Hold and 0 consider it Sell.
BofA/Merrill analysts provided their view on The Michaels Companies, Inc. (NASDAQ:MIK) recently. The rating firm issued a Buy rating to this company in a research note released on Mar 08, 2017. Morgan Stanley analysts disclosed their opinion on The Michaels Companies, Inc. (NASDAQ:MIK) recently. The rating firm gave a Overweight rating to this stock in a research note published on Jan 17, 2017. According to a research note disclosed on Dec 07, 2016, analysts at Raymond James have lowered their rating on these shares from Outperform to Mkt Perform.
The Michaels Companies, Inc. (NASDAQ:MIK) Transactions Roundup
Several insiders were part of recent insider activity for the stock. Its Vice Chairman SONSTEBY CHARLES M sold 38,754 company shares for 857240, in a transaction on 2017-03-09. Following the transaction, the Vice Chairman is left with a stake of 56,744 shares, currently valued at $1250638. Meanwhile, EVP-Category Management PAPPAS PHILO sold 32,020 shares worth $704440, through a transaction dated 2017-03-08. Following the completion of the transaction, the insider is left with a stake of 41,435 shares, amounting $913227.4. MIK 10% Owner Blackstone Group Management L. also sold 18,000,000 shares, at a stock price of $21.28. This transaction occurred on 2017-01-27 totals $383040000. After this transaction, the insider’s stake stands at 1,207,492 shares, with a market value of $26613124.
Executives hold 0.39 percent of the stock. Carl (Chuck) Rubin is one of the biggest insider owners in The Michaels Companies, Inc. (NASDAQ:MIK), according to U.S. Securities and Exchange Commission (SEC) filings. The insider owns 299,780 shares which have current market value of around $6607151.2.Mr. Charles M. Sonsteby is another major inside shareholder in the company. The insider owns 95,498 shares as of less than 0.1%, currently worth $2104775.92. Philo Pappas is ranked as third insider holder of the stock. This insider holds 73,455 shares with a market value around $1618948.2 as of recent close.
The Michaels Companies, Inc. (NASDAQ:MIK) Earnings Outlook
In The Michaels Companies, Inc. (NASDAQ:MIK)’s latest quarter, EPS moved to $0.96 from $0.40 in preceding quarter and revenues reached at $1,750.85M compared to $1,227.21M. Analysts had expected The Michaels Companies, Inc. (NASDAQ:MIK) to post net income of about $0.95 per share on $1,762.31M in revenue. Looking ahead, analysts on average predict that earnings for the current quarter would come in in the range of $0.38 to $0.44. That is compared with the $0.36 in EPS it reported during the same period a year ago.