JOANN (JOAN) – Investment Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of JOANN (NASDAQ: JOAN) recently:

  • 6/6/2022 – JOANN had its price target lowered by analysts at Barclays PLC from $9.00 to $5.00. They now have an “underweight” rating on the stock.
  • 6/6/2022 – JOANN had its price target lowered by analysts at Piper Sandler from $11.00 to $6.00. They now have a “neutral” rating on the stock.
  • 6/3/2022 – JOANN was downgraded by analysts at Bank of America Co. from a “buy” rating to a “neutral” rating. They now have a $8.00 price target on the stock, down previously from $20.00.
  • 6/3/2022 – JOANN had its price target lowered by analysts at Telsey Advisory Group from $9.00 to $8.00. They now have a “market perform” rating on the stock.
  • 6/3/2022 – JOANN had its price target lowered by analysts at Wells Fargo & Company from $10.00 to $5.00. They now have an “equal weight” rating on the stock.
  • 6/3/2022 – JOANN had its price target lowered by analysts at Loop Capital from $15.00 to $10.00. They now have a “buy” rating on the stock.
  • 5/27/2022 – JOANN had its price target lowered by analysts at Telsey Advisory Group from $11.00 to $9.00. They now have a “market perform” rating on the stock.

Shares of JOAN stock traded up $0.59 during trading on Thursday, reaching $8.59. 213,743 shares of the company’s stock traded hands, compared to its average volume of 345,058. The firm’s 50-day moving average is $9.02 and its 200 day moving average is $10.30. The company has a current ratio of 1.52, a quick ratio of 0.16 and a debt-to-equity ratio of 8.10. The company has a market capitalization of $349.33 million, a P/E ratio of 78.10 and a beta of 1.22. JOANN Inc. has a 1 year low of $6.23 and a 1 year high of $16.65.

JOANN (NASDAQ:JOANGet Rating) last released its earnings results on Thursday, June 2nd. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.29). The business had revenue of $498.00 million for the quarter, compared to the consensus estimate of $517.09 million. JOANN had a net margin of 0.28% and a return on equity of 44.49%. JOANN’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 EPS. As a group, sell-side analysts predict that JOANN Inc. will post 0.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 10th will be paid a $0.11 dividend. The ex-dividend date is Thursday, June 9th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.12%. JOANN’s dividend payout ratio is presently 400.04%.

In related 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 filing with the SEC, which is available at this hyperlink. Insiders own 71.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Delphia USA Inc. bought a new position in JOANN during the first quarter valued at $276,000. First Manhattan Co. increased its position in JOANN by 13.6% during the first quarter. First Manhattan Co. now owns 375,000 shares of the company’s stock valued at $4,278,000 after acquiring an additional 45,000 shares during the last quarter. Geneos Wealth Management Inc. increased its position 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 last quarter. Goldman Sachs Group Inc. bought a new position in JOANN during the first quarter valued at $155,000. Finally, State Street Corp increased its position in JOANN by 1.9% during the first quarter. State Street Corp now owns 210,672 shares of the company’s stock valued at $2,427,000 after acquiring an additional 3,843 shares during the last quarter. Institutional investors own 95.63% of the company’s stock.

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.

Featured Articles

Receive News & Ratings for JOANN Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JOANN Inc and related companies with MarketBeat.com's FREE daily email newsletter.