The Michaels Companies (MIK) : 8 analysts are covering The Michaels Companies (MIK) and their average rating on the stock is 1.88, which is read as a Buy. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. The Michaels Companies (MIK) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 4, which recommends a Sell affirms that they expect a large upside in the stock from the current levels. A total of 3 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
The Michaels Companies (MIK) : The highest short term price target forecast on The Michaels Companies (MIK) is $34 and the lowest target price is $28. A total of 8 equity analysts are currently covering the company. The average price of all the analysts is $31 with a standard deviation of $2.33.
For the current week, the company shares have a recommendation consensus of Buy.
The Michaels Companies (NASDAQ:MIK): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $25.38 and $25.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $25.55. The buying momentum continued till the end and the stock did not give up its gains. It closed at $25.50, notching a gain of 0.04% for the day. The total traded volume was 1,165,874 . The stock had closed at $25.49 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.