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Michaels Companies (MIK) Jumps: Stock Rises 11.6%

Zacks

The Michaels Companies, Inc. MIK was a big mover last session, as the company saw its shares rise nearly 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $18.21 to $19.58 in the past one month time frame.

The move came after the company’s third-quarter 2017 results, especially the bottom line, came in well ahead of expectations.

The company has seen one positive estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Michaels Companies. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

Michaels Companies currently has a Zacks Rank #2 (Buy) while its Earnings ESP is positive.


Another stock worth considering in the Retail – Miscellaneous industry is Hibbett Sports, Inc.HIBB which carries a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.

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