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). The company’s shares closed last Monday at $2.51, close to its 52-week low of $1.65.
According to TipRanks.com, Fadem is a 4-star analyst with an average return of 2.4% and a 50.3% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings, Floor & Decor Holdings, and Advance Auto Parts.
Michaels Companies has an analyst consensus of Moderate Sell, with a price target consensus of $6.38.
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Based on Michaels Companies’ latest earnings release for the quarter ending October 31, the company reported a quarterly net profit of $28.67 million. In comparison, last year the company had a net profit of $181 million.
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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.