Michaels Stores Inc 2017 Q2 Institutional Investor Sentiment Better Than Expected

November 14, 2017 - By Nellie Frank

 Michaels Stores Inc  2017 Q2 Institutional Investor Sentiment  Better Than Expected

Sentiment for Michaels Stores Inc (NASDAQ:MIK)

Michaels Stores Inc (NASDAQ:MIK) institutional sentiment increased to 1.81 in Q2 2017. Its up 0.32, from 1.49 in 2017Q1. The ratio is better, as 139 active investment managers increased or opened new positions, while 77 reduced and sold equity positions in Michaels Stores Inc. The active investment managers in our partner’s database now have: 190.43 million shares, down from 192.13 million shares in 2017Q1. Also, the number of active investment managers holding Michaels Stores Inc in their top 10 positions was flat from 4 to 4 for the same number . Sold All: 25 Reduced: 52 Increased: 93 New Position: 46.

The Michaels Companies, Inc. is an arts and crafts specialty retailer in North America. The company has market cap of $3.30 billion. The Company’s divisions include Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s and Darice. It has a 9.64 P/E ratio. As of January 28, 2017, the Company operated 1,223 Michaels retail stores in 49 states and Canada, with approximately 18,000 average square feet of selling space per store.

About 693,233 shares traded. Michaels Companies Inc (NASDAQ:MIK) has declined 29.62% since November 14, 2016 and is downtrending. It has underperformed by 46.32% the S&P500.

Wall Street await Michaels Companies Inc (NASDAQ:MIK) to release earnings on December, 5. Analysts forecast earnings per share of $0.42, up exactly $0.02 or 5.00 % from 2014’s $0.4 EPS. The expected MIK’s profit could reach $76.05M giving the stock 10.88 P/E in the case that $0.42 earnings per share is reported. After posting $0.19 EPS for the previous quarter, Michaels Companies Inc’s analysts now forecast 121.05 % EPS growth.

Bain Capital Investors Llc holds 18.85% of its portfolio in Michaels Companies Inc for 52.80 million shares. Pennant Capital Management Llc owns 4.09 million shares or 4.45% of their US portfolio. Moreover, Blackstone Group L.P. has 3.35% invested in the company for 20.39 million shares. The Wisconsin-based Reinhart Partners Inc. has invested 3% in the stock. Highfields Capital Management Lp, a Massachusetts-based fund reported 17.71 million shares.#img1#

Michaels Companies Inc (NASDAQ:MIK) Ratings Coverage

Ratings analysis reveals 57% of Michaels Companies Inc’s analysts are positive. Out of 14 Wall Street analysts rating Michaels Companies Inc, 8 give it “Buy”, 2 “Sell” rating, while 4 recommend “Hold”. The lowest target is $16.0 while the high is $32. The stock’s average target of $26.55 is 45.40% above today’s ($18.26) share price. MIK was included in 28 notes of analysts from August 25, 2015. The stock of Michaels Companies Inc (NASDAQ:MIK) earned “Buy” rating by Bank of America on Friday, June 16. Goldman Sachs maintained it with “Buy” rating and $30 target in Friday, March 18 report. Bank of America downgraded the stock to “Neutral” rating in Friday, November 4 report. The firm has “Buy” rating given on Monday, October 16 by SunTrust. PiperJaffray downgraded the shares of MIK in report on Monday, March 27 to “Neutral” rating. Morgan Stanley upgraded the shares of MIK in report on Tuesday, January 17 to “Overweight” rating. The company was downgraded on Monday, March 7 by Morgan Stanley. The stock of Michaels Companies Inc (NASDAQ:MIK) has “Buy” rating given on Wednesday, December 7 by Deutsche Bank. As per Friday, September 29, the company rating was maintained by Piper Jaffray. The stock has “Buy” rating by Suntrust Robinson on Tuesday, August 25.

More news for Michaels Companies Inc (NASDAQ:MIK) were recently published by: Businesswire.com, which released: “The Michaels Companies, Inc. Launches New Online Custom Framing Business” on October 25, 2017. Businesswire.com‘s article titled: “The Michaels Companies to Report Third Quarter Earnings on November 30, 2017” and published on November 13, 2017 is yet another important article.

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