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
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
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.
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