The Michaels Companies (MIK) has an average broker rating of 1.71, which is interpreted as a Buy, as rated by 7 equity analysts. Nonetheless, 4 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 1 other analysts advise a Buy. Nevertheless, the majority of 2 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 2, which is also a Buy.
The Michaels Companies (MIK) stock is expected to deviate a maximum of $2.56 from the average target price of $31.5 for the short term period. 8 Street Experts have initiated coverage on the stock with the most promising target being $34 and the most muted being $28.
For the current week, the company shares have a recommendation consensus of Buy.
The Michaels Companies (NASDAQ:MIK): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $29.20 and $28.85 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $29.75. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.88, notching a gain of 0.14% for the day. The total traded volume was 1,281,525 . The stock had closed at $28.84 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.