JOANN Inc. (NASDAQ:JOAN) Receives Average Rating of “Hold” from Brokerages

Shares of JOANN Inc. (NASDAQ:JOANGet Rating) have been assigned an average rating of “Hold” from the eight research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $13.33.

A number of research analysts have weighed in on the stock. Piper Sandler lowered shares of JOANN from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $12.00 to $11.00 in a research note on Friday, March 18th. Zacks Investment Research lowered shares of JOANN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 23rd. Guggenheim lowered shares of JOANN from a “buy” rating to a “neutral” rating in a research report on Monday, March 21st. Barclays decreased their price objective on shares of JOANN from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Monday, March 21st. Finally, Loop Capital raised their price objective on shares of JOANN from $13.00 to $15.00 in a report on Friday, March 18th.

NASDAQ:JOAN opened at $9.77 on Wednesday. JOANN has a 12 month low of $8.51 and a 12 month high of $17.50. The stock has a market capitalization of $396.60 million, a price-to-earnings ratio of 7.24 and a beta of 1.19. The firm has a fifty day simple moving average of $11.28 and a two-hundred day simple moving average of $10.80. The company has a current ratio of 1.25, a quick ratio of 0.11 and a debt-to-equity ratio of 5.20.

JOANN (NASDAQ:JOANGet Rating) last released its quarterly earnings data on Thursday, March 17th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.28. JOANN had a net margin of 2.35% and a return on equity of 62.50%. The firm had revenue of $735.30 million for the quarter, compared to analyst estimates of $752.33 million. JOANN’s revenue for the quarter was down 12.5% compared to the same quarter last year. Equities analysts predict that JOANN will post 1.01 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 8th. Stockholders of record on Friday, March 25th were paid a $0.11 dividend. This is an increase from JOANN’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, March 24th. This represents a $0.44 annualized dividend and a dividend yield of 4.50%. JOANN’s dividend payout ratio (DPR) is presently 32.59%.

In other news, Director Darrell Webb sold 94,568 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $12.50, for a total value of $1,182,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 97,575 shares of company stock valued at $1,218,014 in the last quarter.

Several hedge funds have recently added to or reduced their stakes in JOAN. UBS Group AG lifted its position in JOANN by 2,122.0% during the third quarter. UBS Group AG now owns 2,222 shares of the company’s stock valued at $25,000 after purchasing an additional 2,122 shares during the last quarter. Citigroup Inc. lifted its position in JOANN by 106.7% during the fourth quarter. Citigroup Inc. now owns 2,960 shares of the company’s stock valued at $31,000 after purchasing an additional 1,528 shares during the last quarter. FinTrust Capital Advisors LLC bought a new stake in JOANN during the first quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC bought a new stake in JOANN during the fourth quarter valued at approximately $55,000. Finally, New York State Common Retirement Fund lifted its position in JOANN by 920.0% during the first quarter. New York State Common Retirement Fund now owns 10,200 shares of the company’s stock valued at $116,000 after purchasing an additional 9,200 shares during the last quarter. Institutional investors own 95.63% of the company’s stock.

About JOANN (Get Rating)

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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Analyst Recommendations for JOANN (NASDAQ:JOAN)

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