Michaels Companies (MIK) Gets a Hold Rating from Wells Fargo

In a report released today, Zachary Fadem from Wells Fargo maintained a Hold rating on Michaels Companies (MIK), with a price target of $14. The company’s shares opened today at $12.50, close to its 52-week low of $11.44.

Fadem noted:

“Weather Drives Soft Q1 Start; Another Hockey Stick In Easter Season.”

According to TipRanks.com, Fadem is a 4-star analyst with an average return of 9.2% and a 65.5% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Floor & Decor Holdings Inc, and Advance Auto Parts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Michaels Companies with a $15.67 average price target.

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The company has a one-year high of $22.15 and a one-year low of $11.44. Currently, Michaels Companies has an average volume of 2.14M.

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Michaels Cos., Inc. is an arts and crafts specialty retailer, which engages in the provision of materials, project ideas, and education for creative activities. It operates through the following segments: Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s, and Darice.

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