Michaels Companies (MIK) Shares Down 5.8%
Michaels Companies Inc (NASDAQ:MIK) shares traded down 5.8% during trading on Thursday . The company traded as low as $12.07 and last traded at $12.11. 2,812,769 shares traded hands during mid-day trading, an increase of 38% from the average session volume of 2,031,003 shares. The stock had previously closed at $12.86.
MIK has been the subject of several analyst reports. Wells Fargo & Co restated a “hold” rating and set a $17.00 price target (down from $19.00) on shares of Michaels Companies in a research report on Thursday, December 6th. Bank of America reaffirmed a “buy” rating and set a $21.00 target price (down previously from $25.00) on shares of Michaels Companies in a research note on Wednesday, January 9th. Loop Capital set a $18.00 target price on shares of Michaels Companies and gave the company a “hold” rating in a research note on Thursday, December 6th. BidaskClub downgraded shares of Michaels Companies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 8th. Finally, Zacks Investment Research raised shares of Michaels Companies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Monday, December 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $18.82.
The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 5.58, a P/E/G ratio of 0.57 and a beta of 1.14.
About Michaels Companies (NASDAQ:MIK)
The Michaels Companies, Inc owns and operates arts and crafts specialty retail stores for Makers and do-it-yourself home decorators in North America. It operates Michaels stores that offer approximately 45,000 stock-keeping units (SKUs) in crafts, home decor and seasonal, framing, and paper crafting; and Aaron Brothers stores, which offer approximately 5,600 SKUs, including photo frames, a line of ready-made frames, art prints, framed art, art supplies, and custom framing services.
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