What’s Ahead for The Michaels Companies, Inc. (MIK) After Forming Double Bottom?

November 10, 2018 - By Hugh Holland

The Michaels Companies, Inc. (NASDAQ:MIK) Logo

Investors sentiment increased to 1.33 in Q2 2018. Its up 0.01, from 1.32 in 2018Q1. It is positive, as 28 investors sold The Michaels Companies, Inc. shares while 73 reduced holdings. 48 funds opened positions while 86 raised stakes. 194.44 million shares or 1.92% more from 190.77 million shares in 2018Q1 were reported.
The Ohio-based Meeder Asset Management has invested 0% in The Michaels Companies, Inc. (NASDAQ:MIK). Grantham Mayo Van Otterloo And Co Ltd Liability Com has 72,882 shares. Vanguard Grp Incorporated reported 0.01% stake. Thrivent Financial For Lutherans reported 795,182 shares stake. Magnetar Ltd Liability Corporation stated it has 0.01% of its portfolio in The Michaels Companies, Inc. (NASDAQ:MIK). Fuller And Thaler Asset Mgmt Inc has invested 0% in The Michaels Companies, Inc. (NASDAQ:MIK). Putnam Fl Inv, Massachusetts-based fund reported 252,882 shares. State Treasurer State Of Michigan stated it has 40,900 shares. Price T Rowe Assoc Md reported 12.00M shares. Mason Street Advisors Limited Liability Corporation holds 0.02% or 56,957 shares. Yorktown Mngmt And Rech holds 0.13% in The Michaels Companies, Inc. (NASDAQ:MIK) or 23,000 shares. First Quadrant L P Ca holds 0.44% or 1.22 million shares. Envestnet Asset Inc holds 0% or 6,771 shares in its portfolio. Employees Retirement Systems Of Texas has 222,000 shares for 0.06% of their portfolio. Legal General Group Incorporated Public Ltd Company stated it has 149,693 shares or 0% of all its holdings.

The chart of The Michaels Companies, Inc. (MIK) shows a double bottom with $16.66 target or 6.00 % below today’s $17.72 share price. The 6 months chart pattern indicates high risk for the $3.04B company. It was reported on Nov, 10 by Finviz.com. If the $16.66 price target is reached, the company will be worth $182.22 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.28% or $0.05 during the last trading session, reaching $17.72. About 2.03 million shares traded. The Michaels Companies, Inc. (NASDAQ:MIK) has declined 20.20% since November 10, 2017 and is downtrending. It has underperformed by 35.82% the S&P500.

Analysts await The Michaels Companies, Inc. (NASDAQ:MIK) to report earnings on November, 29. They expect $0.44 EPS, 0.00 % or $0.00 from last year’s $0.44 per share. MIK’s profit will be $75.41M for 10.07 P/E if the $0.44 EPS becomes a reality. After $0.15 actual EPS reported by The Michaels Companies, Inc. for the previous quarter, Wall Street now forecasts 193.33 % EPS growth.

The Michaels Companies, Inc. (NASDAQ:MIK) Ratings Coverage

Among 3 analysts covering Michaels Companies (NASDAQ:MIK), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. Michaels Companies had 3 analyst reports since August 31, 2018 according to SRatingsIntel. Deutsche Bank maintained The Michaels Companies, Inc. (NASDAQ:MIK) on Friday, August 31 with “Hold” rating. Wells Fargo maintained it with “Market Perform” rating and $19 target in Friday, August 31 report. The firm has “Overweight” rating by Morgan Stanley given on Thursday, October 11.

The Michaels Companies, Inc. owns and operates arts and crafts specialty retail stores in North America. The company has market cap of $3.04 billion. It operates Michaels stores that offer approximately 33,000 stock-keeping units in crafts, home decor and seasonal, framing, and paper crafting; and Aaron Brothers stores, which offer approximately 5,900 SKUs, including photo frames, a line of ready-made frames, art prints, framed art, art supplies, and custom framing. It has a 9.56 P/E ratio. The firm also operates Pat CatanÂ’s stores that provide approximately 53,000 SKUs, including an assortment of kids craft items, fine art supplies, yarn, floral supplies, scrapbooking materials, home decor, bakeware, and wedding related merchandise.

The Michaels Companies, Inc. (NASDAQ:MIK) Ratings Chart

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