JOANN (NASDAQ:JOAN) PT Lowered to $6.00 at Piper Sandler

JOANN (NASDAQ:JOANGet 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.

JOANN (NASDAQ:JOANGet Rating) last announced its quarterly earnings data on Thursday, June 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.29). JOANN had a return on equity of 42.23% and a net margin of 0.28%. The firm had revenue of $498.00 million for the quarter, compared to the consensus estimate of $517.09 million. During the same quarter last year, the business earned $0.45 earnings per share. The business’s revenue for the quarter was down 13.3% compared to the same quarter last year. Equities research analysts expect that JOANN will post 0.98 EPS for the current fiscal year.

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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