Michaels Companies Inc (NASDAQ:MIK) shares traded down 5.8% on Thursday . The stock traded as low as $12.07 and last traded at $12.11. 2,812,769 shares traded hands during trading, an increase of 38% from the average session volume of 2,031,003 shares. The stock had previously closed at $12.86.
Several research analysts have recently weighed in on the stock. Bank of America reiterated a “buy” rating and set a $21.00 price target (down previously from $25.00) on shares of Michaels Companies in a research note on Wednesday, January 9th. BidaskClub cut shares of Michaels Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. JPMorgan Chase & Co. cut shares of Michaels Companies from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $15.00 in a research note on Friday, March 1st. Zacks Investment Research restated a “buy” rating and set a $14.00 target price on shares of Michaels Companies in a research note on Monday, December 31st. Finally, Citigroup started coverage on shares of Michaels Companies in a research note on Thursday, December 20th. They set a “market weight” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.82.
The company has a market cap of $1.98 billion, a price-to-earnings ratio of 5.58, a price-to-earnings-growth ratio of 0.57 and a beta of 1.14.
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Michaels Companies Company Profile (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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