Shares of The Michaels Companies Inc. (NASDAQ:MIK) traded today at $22.35, eclipsing its 52-week high. This new high was reached on below average trading volume as 3.6 million shares traded hands, while the average 30-day volume is approximately 6.9 million shares.
The Michaels Companies Inc. (NASDAQ:MIK) is currently priced 1.9% above its average consensus analyst price target of $21.87.
The Michaels Companies Inc is an arts and crafts specialty retailer in North America. The company provides materials, project ideas, and education for creative activities like crafting classes, store events, store displays, mobile applications, and online videos. The company sells merchandise through two stores: Michaels and Aaron Brothers. Michaels’ revenue segments are general crafts, home decor and seasonal, Custom and ready-made framing, and paper crafting. Aaron Brothers offer unique framing assortments. The company operates its own distribution network through a wholly owned subsidiary to supply merchandise in the stores.
Over the past year, The Michaels Companies Inc. has traded in a range of $1.00 to $22.35 and is now at $22.29, 2,129% above that low.
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