Wells Fargo Keeps Their Hold Rating on Michaels Companies (MIK)

In a report issued on March 23, Zachary Fadem from Wells Fargo maintained a Hold rating on Michaels Companies (MIK), with a price target of $2.00. The company’s shares closed last Monday at $2.98, close to its 52-week low of $1.00.

According to TipRanks.com, Fadem is a 4-star analyst with an average return of 4.1% and a 52.3% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings, Floor & Decor Holdings, and Advance Auto Parts.

Currently, the analyst consensus on Michaels Companies is a Moderate Sell with an average price target of $5.25, a 127.3% upside from current levels. In a report issued on March 18, Guggenheim also downgraded the stock to Hold.

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The company has a one-year high of $13.08 and a one-year low of $1.00. Currently, Michaels Companies has an average volume of 5.45M.

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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. The company was founded by Michael Dupey in 1973 and is headquartered in Irving, TX.

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