JOANN Inc. (NASDAQ:JOAN) Given Average Recommendation of “Reduce” by Analysts

JOANN Inc. (NASDAQ:JOAN – Get Rating) has been assigned a consensus rating of “Hold” from the six analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $2.75.

A number of research analysts have recently weighed in on JOAN shares. Wells Fargo & Company dropped their price target on JOANN from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Friday, March 24th. Bank of America dropped their price objective on JOANN from $3.50 to $1.00 and set an “underperform” rating for the company in a research report on Monday, March 27th. Telsey Advisory Group reissued a “market perform” rating and issued a $2.50 price target on shares of JOANN in a research note on Friday, March 24th. Finally, Loop Capital reduced their price objective on JOANN from $4.00 to $2.00 in a research note on Friday, March 24th.

Insider Activity at JOANN

In other JOANN news, CFO Scott Sekella bought 27,700 shares of the firm’s stock in a transaction that occurred on Friday, April 14th. The stock was acquired at an average price of $1.59 per share, with a total value of $44,043.00. Following the completion of the transaction, the chief financial officer now owns 78,754 shares in the company, valued at $125,218.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 73.40% of the company’s stock.

Institutional Investors Weigh In On JOANN

Institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. grew its holdings in JOANN by 86.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,800 shares of the company’s stock worth $31,000 after acquiring an additional 1,300 shares during the last quarter. UBS Group AG lifted its position in shares of JOANN by 141.5% in the 2nd quarter. UBS Group AG now owns 3,383 shares of the company’s stock worth $26,000 after purchasing an additional 1,982 shares during the period. BNP Paribas Arbitrage SNC acquired a new position in shares of JOANN during the 3rd quarter valued at $33,000. Rhumbline Advisers acquired a new position in shares of JOANN during the 1st quarter valued at $122,000. Finally, Principal Financial Group Inc. acquired a new position in shares of JOANN during the 2nd quarter valued at $91,000. 91.23% of the stock is owned by institutional investors.

JOANN Price Performance

Shares of NASDAQ JOAN opened at $1.58 on Friday. The company has a debt-to-equity ratio of 24.54, a quick ratio of 0.12 and a current ratio of 1.28. JOANN has a fifty-two week low of $1.42 and a fifty-two week high of $11.55. The firm has a market capitalization of $64.99 million, a PE ratio of -0.32 and a beta of 1.13. The stock’s 50-day simple moving average is $1.74 and its 200-day simple moving average is $3.14.

JOANN (NASDAQ:JOAN – Get Rating) last released its quarterly earnings results on Thursday, March 23rd. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.28). The firm had revenue of $692.80 million for the quarter, compared to analyst estimates of $675.50 million. JOANN had a negative return on equity of 99.95% and a negative net margin of 9.05%. As a group, equities research analysts forecast that JOANN will post -1.48 EPS for the current fiscal year.

JOANN Company Profile

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JOANN Inc operates as a specialty retailer of sewing and fabrics, and arts and crafts category products in the United States. Its products in sewing category include cotton fabrics; warm fabrics, such as fleece and flannel fabrics; home decorating and utility fabrics and accessories; fashion and sportswear fabrics; special occasion fabrics; seasonally themed and licensed fabric designs; and sewing construction supplies comprising cutting implements, threads, zippers, trims, tapes, pins, elastic, and buttons, as well as patterns for sewing projects.