Loop Capital Reiterates “$18.00” Price Target for Michaels Companies (MIK)
Michaels Companies (NASDAQ:MIK) has been assigned a $18.00 price objective by equities researchers at Loop Capital in a report released on Thursday. The firm presently has a “hold” rating on the specialty retailer’s stock. Loop Capital’s price objective would indicate a potential upside of 12.85% from the stock’s previous close.
Several other analysts have also recently weighed in on MIK. Credit Suisse Group reiterated a “buy” rating on shares of Michaels Companies in a report on Thursday, August 9th. ValuEngine upgraded shares of Michaels Companies from a “strong sell” rating to a “sell” rating in a report on Monday, August 20th. BidaskClub lowered Michaels Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. Wells Fargo & Co reissued a “hold” rating and set a $19.00 price objective (down previously from $20.00) on shares of Michaels Companies in a research report on Thursday, August 30th. Finally, Deutsche Bank lowered their price objective on Michaels Companies from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, August 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.89.
NASDAQ:MIK traded down $0.47 during trading hours on Thursday, hitting $15.95. The company had a trading volume of 1,593,253 shares, compared to its average volume of 2,031,083. The stock has a market cap of $2.81 billion, a P/E ratio of 7.35, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. Michaels Companies has a 52 week low of $14.82 and a 52 week high of $27.87.
Institutional investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new position in Michaels Companies during the second quarter valued at $170,000. We Are One Seven LLC purchased a new position in shares of Michaels Companies in the 3rd quarter worth about $180,000. State of Alaska Department of Revenue raised its position in shares of Michaels Companies by 138.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,642 shares of the specialty retailer’s stock worth $187,000 after purchasing an additional 6,762 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Michaels Companies in the 3rd quarter worth about $195,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Michaels Companies in the 2nd quarter worth about $321,000.
About Michaels Companies
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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