A number of other analysts also recently issued reports on the stock. Barclays reduced their price target on shares of JOANN from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Monday, March 21st. Guggenheim downgraded shares of JOANN from a “buy” rating to a “neutral” rating in a report on Monday, March 21st. Zacks Investment Research upgraded shares of JOANN from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 18th. Loop Capital reduced their target price on shares of JOANN from $15.00 to $10.00 in a report on Friday. Finally, Piper Sandler downgraded shares of JOANN from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $12.00 to $11.00 in a report on Friday, March 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $12.14.
JOAN opened at $7.90 on Friday. The company has a debt-to-equity ratio of 5.20, a quick ratio of 0.11 and a current ratio of 1.25. The stock has a market cap of $321.29 million, a price-to-earnings ratio of 5.85 and a beta of 1.22. The firm’s fifty day moving average is $9.90 and its 200 day moving average is $10.47. JOANN has a fifty-two week low of $7.00 and a fifty-two week high of $17.50.
In related news, Director Darrell Webb sold 94,568 shares of the company’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $12.50, for a total transaction of $1,182,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 97,575 shares of company stock worth $1,218,014 over the last quarter. 71.10% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in JOANN by 18.2% during the 3rd quarter. Geode Capital Management LLC now owns 226,854 shares of the company’s stock valued at $2,527,000 after purchasing an additional 34,982 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in JOANN in the 4th quarter valued at about $55,000. Royce & Associates LP boosted its position in JOANN by 298.5% in the 4th quarter. Royce & Associates LP now owns 790,850 shares of the company’s stock valued at $8,209,000 after buying an additional 592,409 shares during the period. Invenomic Capital Management LP boosted its position in JOANN by 242.1% in the 4th quarter. Invenomic Capital Management LP now owns 351,502 shares of the company’s stock valued at $3,648,000 after buying an additional 248,750 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in JOANN by 964.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 123,430 shares of the company’s stock valued at $1,375,000 after buying an additional 111,830 shares during the period. Institutional investors own 95.63% of the company’s stock.
JOANN Company Profile (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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