Michaels Companies (NASDAQ:MIK) had its target price dropped by investment analysts at Piper Jaffray Companies from $11.00 to $9.00 in a research note issued on Friday, The Fly reports. The firm presently has an “underweight” rating on the specialty retailer’s stock. Piper Jaffray Companies’ price objective points to a potential downside of 22.95% from the stock’s previous close.
Several other equities research analysts have also recently commented on MIK. 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 report on Wednesday, January 9th. BidaskClub upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a research report on Saturday, January 5th. Zacks Investment Research reiterated a “buy” rating and set a $14.00 price target on shares of Michaels Companies in a research report on Monday, December 31st. Loop Capital upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $17.00 in a research report on Wednesday, February 6th. Finally, Wells Fargo & Co reiterated a “hold” rating and set a $17.00 price target (down previously from $19.00) on shares of Michaels Companies in a research report on Thursday, December 6th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $18.27.
Shares of NASDAQ MIK opened at $11.68 on Friday. Michaels Companies has a 1-year low of $11.44 and a 1-year high of $22.38. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 5.38, a P/E/G ratio of 0.57 and a beta of 1.14.
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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