Analyst Rating Update on The Michaels Companies (MIK)

The Michaels Companies (NASDAQ:MIK) : 7 analysts are covering The Michaels Companies (NASDAQ:MIK) and their average rating on the stock is 1.71, 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 (NASDAQ: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 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

The Michaels Companies (NASDAQ:MIK) : The highest level The Michaels Companies (NASDAQ:MIK) is projected to reach is $34 for the short term and the lowest estimate is at $28. The consolidated price target from 8 rating analysts who initiate coverage on the stock is $31.5 and the possibility the share price can swing is $2.56.

For the current week, the company shares have a recommendation consensus of Buy. Also, Goldman Sachs downgrades their rating on the shares of The Michaels Companies (NASDAQ:MIK). The current rating of the shares is Neutral. Earlier, the shares were rated a Buy by the brokerage firm. Equity Analysts at the Firm maintains the price target to $30 per share. The rating by the firm was issued on May 6, 2016.

The Michaels Companies (NASDAQ:MIK): stock turned positive on Tuesday. Though the stock opened at $27.26, the bulls momentum made the stock top out at $27.61 level for the day. The stock recorded a low of $27.215 and closed the trading day at $27.34, in the green by 1.67%. The total traded volume for the day was 1,283,805. The stock had closed at $26.89 in the previous days trading.

In an insider trading activity, The director officer (Chairman & CEO), of Michaels Companies, Inc., Rubin Carl had unloaded 150,000 shares at $30.29 per share in a transaction on June 6, 2016. The total value of transaction was $4,543,500. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

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.

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