Michaels Companies Inc (NASDAQ:MIK) was the target of some unusual options trading on Thursday. Stock traders bought 9,316 put options on the company. This represents an increase of approximately 13,401% compared to the average daily volume of 69 put options.
MIK has been the subject of several recent analyst reports. BidaskClub downgraded Michaels Companies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 8th. Wells Fargo & Co restated a “hold” rating and issued a $17.00 price target (down from $19.00) on shares of Michaels Companies in a report on Thursday, December 6th. Loop Capital set a $18.00 price target on Michaels Companies and gave the stock a “hold” rating in a report on Thursday, December 6th. Zacks Investment Research downgraded Michaels Companies from a “buy” rating to a “hold” rating in a report on Tuesday, December 18th. Finally, Piper Jaffray Companies restated an “underweight” rating and issued a $9.00 price target (down from $11.00) on shares of Michaels Companies in a report on Friday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $18.27.
MIK stock opened at $12.11 on Friday. The stock has a market cap of $1.98 billion, a PE ratio of 5.58, a PEG ratio of 0.57 and a beta of 1.14. Michaels Companies has a fifty-two week low of $12.07 and a fifty-two week high of $22.38.
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.
See Also: Hedge Funds – Risk or Reward?
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.