Shares of JOANN Inc. (NASDAQ:JOAN) have been given an average rating of “Buy” by the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $18.38.
A number of equities analysts have weighed in on the stock. Barclays assumed coverage on shares of JOANN in a research note on Tuesday, April 6th. They issued an “overweight” rating and a $17.00 target price for the company. Credit Suisse Group assumed coverage on shares of JOANN in a research note on Tuesday, April 6th. They issued an “outperform” rating and a $16.00 target price for the company. Zacks Investment Research raised shares of JOANN from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Wednesday, June 9th. Piper Sandler boosted their target price on shares of JOANN from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, June 4th. Finally, Bank of America assumed coverage on shares of JOANN in a research note on Tuesday, April 6th. They issued a “buy” rating and a $27.00 target price for the company.
NASDAQ:JOAN traded down $0.44 on Thursday, reaching $15.62. The stock had a trading volume of 5,175 shares, compared to its average volume of 563,425. The firm has a market cap of $658.54 million and a P/E ratio of 2.66. JOANN has a 1-year low of $9.75 and a 1-year high of $17.50. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.23 and a quick ratio of 0.17. The stock’s fifty day simple moving average is $14.84.
The firm also recently declared a — dividend, which was paid on Friday, June 25th. Investors of record on Friday, June 11th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, June 10th. JOANN’s dividend payout ratio (DPR) is 6.75%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Sun Life Financial INC bought a new stake in JOANN in the first quarter valued at approximately $10,016,000. Geode Capital Management LLC bought a new stake in JOANN in the first quarter valued at approximately $186,000. Federated Hermes Inc. bought a new stake in JOANN in the first quarter valued at approximately $1,726,000. Citigroup Inc. bought a new stake in JOANN in the first quarter valued at approximately $635,000. Finally, Rokos Capital Management LLP bought a new stake in JOANN in the first quarter valued at approximately $2,479,000.
JOANN Inc operates as a specialty retailer of sewing, 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 supplies comprising cutting implements, threads, zippers, trims, tapes, pins, elastic, and buttons, as well as patterns for sewing projects.
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