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Stock analysts at Nomura started coverage on shares of Michaels Companies (NYSE:MIK) in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $19.00 price target on the stock. Nomura’s price target points to a potential upside of 28.12% from the company’s current price.

Shares of Michaels Companies (NYSE:MIK) traded down 5.42% during mid-day trading on Wednesday, hitting $14.83. 650,604 shares of the company’s stock traded hands. Michaels Companies has a 52 week low of $14.51 and a 52 week high of $17.28. The stock’s 50-day moving average is $16.33 and its 200-day moving average is $16.33. The company has a market cap of $3.012 billion and a P/E ratio of 13.25.

A number of other analysts have also recently weighed in on MIK. Analysts at Barclays initiated coverage on shares of Michaels Companies in a research note on Wednesday. They set an “equal weight” rating and a $18.00 price target on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of Michaels Companies in a research note on Wednesday. They set a “neutral” rating and a $18.00 price target on the stock. Finally, analysts at SunTrust initiated coverage on shares of Michaels Companies in a research note on Wednesday. They set a “buy” rating and a $20.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $19.25.

The Michaels Companies, Inc is an arts and crafts specialty retailer in North America. The Company also operates a vertically integrated custom framing business.

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