Michaels Companies Inc (NASDAQ:MIK) Has Just Had Its Price Target Cut by Stock Analysts at JP Morgan to $32.00


Analysis: Michaels Companies Inc (NASDAQ:MIK) Target Upped Today

In analysts report shared with investors and clients by JP Morgan on Friday, 4 December, the firm, Michaels Companies Inc (NASDAQ:MIK), had their target price cut to $32.00. Analusts at present have a solid Overweight rating on the stock.

From a total of 14 analysts covering Michaels Companies Inc (NASDAQ:MIK) stock, 10 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 67% of the ratings are positive. The highest target price is $35 while the lowest target price is $25. The mean of all analyst targets is $29.64 with a 16.97% above today’s ($21.8) stock price. Michaels Companies Inc was the topic of 3 analyst reports since August 25, 2015 according to the firm StockzIntelligence Inc. Macquarie Research maintained shares on December 4 with “Neutral” rating. Suntrust Robinson maintained MIK stock in a recent report from August 25 with “Buy” rating.

The stock increased 0.51% or $0.11 on December 4, striking $21.8. Approximately shares of stock traded hands. Michaels Companies Inc (NASDAQ:MIK) has declined 17.92% since May 4, 2015 and is downtrending. It has underperformed by 16.84% the S&P500.

The Michaels Companies, Inc. is an arts and crafts specialty retailer in North America. The company has a market cap of $4.51 billion. The Firm 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. It has 15.38 P/E ratio. The Firm also operates a vertically integrated custom framing business.

According to Zacks Investment Research, “The Michaels Companies, Inc. is a specialty retailer of arts and crafts. The Company’s stores offer stock-keeping units in arts, crafts, scrapbooking, floral, framing, home decor, seasonal offerings, and children’s hobbies. It produces 11 exclusive private brands including Recollections(R), Studio Decor(R), Bead Landing(R), Creatology(R), Ashland(R), Celebrate It(R), Art Minds(R), Artist’s Loft(R), Craft Smart(R), Loops & Threads(R) and Imagin8(R). The Michaels Companies, Inc. is based in Irving, Texas.” Get a free copy of the Zacks research report on Michaels Companies Inc (MIK).