JOANN (NASDAQ:JOAN – Get Rating) had its price objective lowered by Piper Sandler from $11.00 to $6.00 in a research report issued on Monday, The Fly reports. Piper Sandler’s target price would indicate a potential downside of 5.66% from the stock’s previous close.
JOAN has been the topic of a number of other reports. Loop Capital lowered their price objective on shares of JOANN from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday. Telsey Advisory Group dropped their price target on shares of JOANN from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Friday. Wells Fargo & Company reduced their price objective on JOANN from $10.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday. Guggenheim lowered JOANN from a “buy” rating to a “neutral” rating in a research report on Monday, March 21st. Finally, Zacks Investment Research lowered JOANN from a “hold” rating to a “sell” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, JOANN currently has a consensus rating of “Hold” and an average price target of $7.71.
Shares of NASDAQ JOAN opened at $6.36 on Monday. The stock has a market capitalization of $258.64 million, a PE ratio of 57.82 and a beta of 1.22. The company has a quick ratio of 0.11, a current ratio of 1.25 and a debt-to-equity ratio of 5.20. JOANN has a 52-week low of $6.23 and a 52-week high of $17.50. The firm has a fifty day moving average of $9.77 and a 200-day moving average of $10.44.
In other JOANN 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 97,575 shares of company stock valued at $1,218,014. 71.10% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. UBS Group AG grew its position in JOANN by 2,122.0% in the 3rd quarter. UBS Group AG now owns 2,222 shares of the company’s stock worth $25,000 after purchasing an additional 2,122 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in JOANN by 86.7% during the first quarter. Geneos Wealth Management Inc. now owns 2,800 shares of the company’s stock valued at $31,000 after acquiring an additional 1,300 shares during the period. Citigroup Inc. raised its holdings in JOANN by 106.7% in the 4th quarter. Citigroup Inc. now owns 2,960 shares of the company’s stock valued at $31,000 after acquiring an additional 1,528 shares in the last quarter. FinTrust Capital Advisors LLC bought a new stake in shares of JOANN in the 1st quarter worth approximately $52,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of JOANN during the 4th quarter worth approximately $55,000. Hedge funds and other 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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