JOANN Inc. (NASDAQ:JOAN – Get Rating) saw unusually large options trading on Thursday. Stock investors acquired 2,948 put options on the company. This is an increase of 2,100% compared to the average volume of 134 put options.
Shares of JOAN opened at $8.57 on Friday. The stock has a market cap of $348.52 million, a PE ratio of 77.92 and a beta of 1.22. The company has a debt-to-equity ratio of 8.10, a quick ratio of 0.11 and a current ratio of 1.52. JOANN has a fifty-two week low of $6.23 and a fifty-two week high of $16.65. The firm’s 50-day simple moving average is $9.43 and its two-hundred day simple moving average is $10.37.
JOANN (NASDAQ:JOAN – Get Rating) last announced its quarterly earnings data on Thursday, June 2nd. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.29). JOANN had a return on equity of 44.49% and a net margin of 0.28%. The business had revenue of $498.00 million during the quarter, compared to analysts’ expectations of $517.09 million. During the same quarter last year, the company posted $0.45 EPS. JOANN’s revenue for the quarter was down 13.3% compared to the same quarter last year. Equities research analysts predict that JOANN will post 0.98 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, June 10th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $0.44 dividend on an annualized basis and a yield of 5.13%. JOANN’s dividend payout ratio (DPR) is 400.04%.
In related news, Director Darrell Webb sold 94,568 shares of the stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $12.50, for a total value of $1,182,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 97,575 shares of company stock worth $1,218,014 over the last ninety days. 71.10% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. UBS Group AG raised its position in JOANN by 2,122.0% in the third quarter. UBS Group AG now owns 2,222 shares of the company’s stock worth $25,000 after acquiring an additional 2,122 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of JOANN by 86.7% in the first quarter. Geneos Wealth Management Inc. now owns 2,800 shares of the company’s stock worth $31,000 after purchasing an additional 1,300 shares in the last quarter. Citigroup Inc. increased its stake in shares of JOANN by 106.7% in the fourth quarter. Citigroup Inc. now owns 2,960 shares of the company’s stock worth $31,000 after purchasing an additional 1,528 shares in the last quarter. FinTrust Capital Advisors LLC purchased a new stake in shares of JOANN in the first quarter worth $52,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of JOANN in the fourth quarter worth $55,000. Institutional investors own 95.63% of the company’s stock.
A number of research analysts recently weighed in on JOAN shares. Loop Capital reduced their price objective on shares of JOANN from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, June 3rd. Zacks Investment Research lowered shares of JOANN from a “hold” rating to a “sell” rating in a research note on Friday, June 3rd. Piper Sandler reduced their price objective on shares of JOANN from $11.00 to $6.00 and set a “neutral” rating for the company in a research note on Monday. Bank of America lowered shares of JOANN from a “buy” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $8.00 in a research report on Friday, June 3rd. Finally, Barclays reduced their price target on shares of JOANN from $9.00 to $5.00 and set an “underweight” rating for the company in a research report on Monday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, JOANN presently has an average rating of “Hold” and an average price target of $7.71.
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.