Shares of JOANN Inc. (NASDAQ:JOAN – Get Rating) have received an average rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $2.75.
A number of equities research analysts recently commented on JOAN shares. Bank of America lowered their price target on shares of JOANN from $3.50 to $1.00 and set an “underperform” rating on the stock in a report on Monday, March 27th. Loop Capital lowered their price target on shares of JOANN from $4.00 to $2.00 in a report on Friday, March 24th. Wells Fargo & Company reduced their price objective on shares of JOANN from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Friday, March 24th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $2.50 price objective on shares of JOANN in a research note on Friday, March 24th.
Insiders Place Their Bets
In other JOANN news, CFO Scott Sekella purchased 27,700 shares of the stock in a transaction on Friday, April 14th. The stock was acquired at an average cost of $1.59 per share, with a total value of $44,043.00. Following the completion of the purchase, the chief financial officer now directly owns 78,754 shares of the company’s stock, valued at approximately $125,218.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 71.10% of the stock is currently owned by insiders.
Hedge Funds Weigh In On JOANN
JOANN Price Performance
JOANN stock opened at $1.60 on Friday. The company has a quick ratio of 0.12, a current ratio of 1.28 and a debt-to-equity ratio of 24.54. The stock has a market cap of $65.81 million, a P/E ratio of -0.33 and a beta of 1.13. The company’s 50 day moving average price is $1.79 and its two-hundred day moving average price is $3.23. JOANN has a 52 week low of $1.42 and a 52 week high of $11.55.
JOANN (NASDAQ:JOAN – Get Rating) last posted its quarterly earnings results on Thursday, March 23rd. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.28). The company had revenue of $692.80 million during the quarter, compared to the consensus estimate of $675.50 million. JOANN had a negative return on equity of 99.95% and a negative net margin of 9.05%. On average, equities analysts predict that JOANN will post -1.48 earnings per share for the current year.
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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