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Payne's Picks

Michaels, a Great Americana Stock Pick?

By Payne's PicksFOXBusiness

Let’s talk about Michaels Companies (NYSE:MIK). It's not that I know Michaels that much... I must be honest with you, the first time I went to one of these stores was in December. But I was in this stock years ago when it was taken over by private equity -- we made a boatload of money. And when I went there recently to buy a sewing machine for my daughter (by the way, I didn't know they still sold sewing machines), I was impressed! They were sold out. The service was amazing. They give a free class. It was bustling. It was exciting. I can see this being a place that would make money from cheap gas and a better domestic economy. And I love the recent action on it. I think Michaels is one of these names – like, for me, Ulta Salon (NASDAQ:ULTA). I told my viewers about Ulta at around $60. It's up over 100%. I see Michaels as the same kind of opportunity. I don't shop there for myself, but having gone there and seeing the service, looking then at the income statement, then the balance sheet -- I think this is a company that looks phenomenal.DISCLOSURES

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