Stock Buzzer: Is Buying Michaels Companies Inc Here a Winning Strategy?

Stock Buzzer: Is Buying Michaels Companies Inc Here a Winning Strategy?

The stock of Michaels Companies Inc (NASDAQ:MIK) is a huge mover today! About 281,964 shares traded hands. Michaels Companies Inc (NASDAQ:MIK) has risen 3.73% since February 29, 2016 and is uptrending. It has underperformed by 8.48% the S&P500.
The move comes after 9 months positive chart setup for the $5.07 billion company. It was reported on Oct, 3 by We have $35.73 PT which if reached, will make NASDAQ:MIK worth $2.33 billion more.

Michaels Companies Inc (NASDAQ:MIK) Ratings Coverage

Out of 9 analysts covering Michaels Companies Inc (NASDAQ:MIK), 4 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 44% are positive. Michaels Companies Inc has been the topic of 13 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Thursday, January 21 by Goldman Sachs. The firm earned “Equal-Weight” rating on Monday, March 7 by Morgan Stanley. As per Friday, May 6, the company rating was downgraded by Goldman Sachs. As per Friday, December 4, the company rating was maintained by Macquarie Research. The rating was maintained by Goldman Sachs on Friday, March 18 with “Buy”. JP Morgan downgraded Michaels Companies Inc (NASDAQ:MIK) rating on Tuesday, July 19. JP Morgan has “Neutral” rating and $30 price target. As per Tuesday, September 6, the company rating was upgraded by Credit Suisse. The stock of Michaels Companies Inc (NASDAQ:MIK) earned “Market Perform” rating by Telsey Advisory Group on Friday, December 4. The firm has “Buy” rating given on Tuesday, August 25 by Suntrust Robinson.

According to Zacks Investment Research, “The Michaels Companies, Inc. is a specialty retailer of arts and crafts. The Company’s stores offer stock-keeping units in arts, crafts, scrapbooking, floral, framing, home décor, seasonal offerings, and children’s hobbies. It produces 11 exclusive private brands including Recollections(R), Studio Decor(R), Bead Landing(R), Creatology(R), Ashland(R), Celebrate It(R), Art Minds(R), Artist’s Loft(R), Craft Smart(R), Loops & Threads(R) and Imagin8(R). The Michaels Companies, Inc. is based in Irving, Texas.”

Insitutional Activity: The institutional sentiment decreased to 1.24 in Q2 2016. Its down 0.62, from 1.86 in 2016Q1. The ratio turned negative, as 40 funds sold all Michaels Companies Inc shares owned while 46 reduced positions. 38 funds bought stakes while 69 increased positions. They now own 206.93 million shares or 1.71% more from 203.45 million shares in 2016Q1.
Qs Ltd Liability Corp has 0% invested in the company for 12 shares. Zurcher Kantonalbank (Zurich Cantonalbank) has 2,737 shares for 0% of their US portfolio. Nationwide Fund Advsr has invested 0.03% of its portfolio in Michaels Companies Inc (NASDAQ:MIK). Numeric Invsts Ltd Liability Corporation owns 14,000 shares or 0% of their US portfolio. Marshall Wace Llp accumulated 835,896 shares or 0.2% of the stock. State Of Wisconsin Invest Board owns 60,580 shares or 0.01% of their US portfolio. Pnc Fincl Svcs Group Inc owns 31 shares or 0% of their US portfolio. Metropolitan Life Insurance Com Ny accumulated 6,008 shares or 0% of the stock. Moreover, Blackrock Advsrs Limited Co has 0% invested in Michaels Companies Inc (NASDAQ:MIK) for 51,507 shares. Acadian Asset Mngmt accumulated 0% or 23,319 shares. Kalmar Investments De reported 1.28 million shares or 1.6% of all its holdings. Cupps Capital Mngmt Ltd Limited Liability Company has invested 0.15% of its portfolio in Michaels Companies Inc (NASDAQ:MIK). Cubist Systematic Strategies Ltd reported 11,264 shares or 0.02% of all its holdings. Menta Limited Liability has 0.08% invested in the company for 21,428 shares. Capital One National Association has 0.15% invested in the company for 66,326 shares.

More recent Michaels Companies Inc (NASDAQ:MIK) news were published by: which released: “Why Michaels Companies, Inc. Stock Jumped Today” on March 17, 2016. Also published the news titled: “The Michaels Companies, Inc. Announces Participation in the Goldman Sachs 23rd …” on September 01, 2016.‘s news article titled: “Oversold Conditions For Michaels Companies (MIK)” with publication date: August 31, 2016 was also an interesting one.

MIK Company Profile

Michaels Stores, Inc. (Michaels), incorporated on November 11, 1983, is a specialty retailer in North America. As of April 11, 2014, the Company operated 1,142 Michaels retail stores in 49 states, as well as in Canada, with approximately 18,000 average square feet of selling space per store. Michaels also operates 118 Aaron Brothers stores in nine states, with approximately 5,600 average square feet of selling space per store, offering photo frames, a line of ready-made frames, custom framing services and a selection of art supplies. The Firm operates a vertically integrated framing operation, leveraging Artistree, its wholly owned manufacturing subsidiary, across its Michaels and Aaron Brothers store networks. Artistree supplies precut mats and custom framing merchandise. The Firm makes approximately 35% of the molding it process, imports approximately 40% from manufacturers in Indonesia, Malaysia, China and Italy, and purchases the balance from distributors.

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