The Michaels Companies (MIK) has been rated by 7 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $34 and the lowest price target forecast is $28. The average forecast of all the analysts is $30.57 and the expected standard deviation is $2.7.
The Michaels Companies (MIK) : The consensus on The Michaels Companies (MIK) based on 7 analyst recommendation on the company stock is 1.71, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 4 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 2 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.
Also, Equity Analysts at the Brokerage Firm, JP Morgan, downgrades their rating on the shares of The Michaels Companies (NASDAQ:MIK). JP Morgan has a Neutral rating on the shares. Previously, the analysts had a Overweight rating on the shares. The rating by the firm was issued on July 28, 2016.
The Michaels Companies (NASDAQ:MIK): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.94 and $23.80 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $24.20. The buying momentum continued till the end and the stock did not give up its gains. It closed at $24.19, notching a gain of 0.96% for the day. The total traded volume was 1,278,961 . The stock had closed at $23.96 on the previous day.
The Michaels Companies, Inc. is an arts and crafts specialty retailer in North America. The Company owns and operates a chain of retail stores in 49 states and Canada featuring arts, crafts, framing, floral, home decor and seasonal merchandise for the hobbyist and do-it-yourself home decorator. The Company also operates a vertically integrated custom framing business. The Company provides materials, project ideas and education for creative activities. The Company has approximately 35,000 stock-keeping units (SKUs) in arts, crafts, scrapbooking, floral, framing, home decor, seasonal offerings and childrens hobbies. It has developed an online platform, which promotes social networking, and includes tips, project ideas, marketing content and information on upcoming store events. The Companys subsidiaries include Aaron Brothers, Inc., Artistree of Canada, ULC, and Michaels Stores Procurement Company.