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 3, which is also a Hold.
The Michaels Companies (MIK) : Currently there are 7 street experts covering The Michaels Companies (MIK) stock. The most bullish and bearish price target for the stock is $34 and $28 respectively for the short term. The average price target of all the analysts comes to $30.57. The estimated standard deviation from the target is $2.7.
For the current week, the company shares have a recommendation consensus of Buy. Also, In the latest statement by the brokerage house, JP Morgan downgrades its outlook on The Michaels Companies (NASDAQ:MIK). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of Overweight. The rating by the firm was issued on July 28, 2016.
The Michaels Companies (NASDAQ:MIK): The stock opened at $25.09 and touched an intraday high of $25.24 on Wednesday. During the day, the stock corrected to an intraday low of $24.91, however, the bulls stepped in and pushed the price higher to close in the green at $25.19 with a gain of 0.16% for the day. The total traded volume for the day was 1,223,749. The stock had closed at $25.15 in the previous trading session.
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.