In a report released today, Zachary Fadem from Wells Fargo maintained a Hold rating on Michaels Companies (MIK), with a price target of $6. The company’s shares closed last Monday at $6.05, close to its 52-week low of $4.96.
According to TipRanks.com, Fadem is a 5-star analyst with an average return of 14.5% and a 73.8% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Floor & Decor Holdings Inc, and Advance Auto Parts.
Michaels Companies has an analyst consensus of Hold, with a price target consensus of $9.50.
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Based on Michaels Companies’ latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of $37.65 million. In comparison, last year the company had a net profit of $27.43 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.
