JOANN Sees Unusually Large Options Volume (NASDAQ:JOAN)

JOANN Inc. (NASDAQ:JOANGet Rating) was the target of unusually large options trading on Wednesday. Traders bought 8,243 call options on the company. This represents an increase of 1,658% compared to the typical volume of 469 call options.

JOAN has been the topic of a number of recent analyst reports. Loop Capital boosted their target price on JOANN from $13.00 to $15.00 in a research report on Friday, March 18th. Barclays decreased their target price on JOANN from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Monday, March 21st. Piper Sandler lowered JOANN from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $12.00 to $11.00 in a research report on Friday, March 18th. Zacks Investment Research lowered JOANN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 23rd. Finally, Guggenheim downgraded JOANN from a “buy” rating to a “neutral” rating in a report on Monday, March 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from, JOANN has a consensus rating of “Hold” and an average price target of $13.14.

In other news, Director Darrell Webb sold 94,568 shares of JOANN stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 97,575 shares of company stock valued at $1,218,014 over the last quarter.

Several institutional investors and hedge funds have recently added to or reduced their stakes in JOAN. Geode Capital Management LLC lifted its stake in shares of JOANN by 18.2% in the third quarter. Geode Capital Management LLC now owns 226,854 shares of the company’s stock worth $2,527,000 after buying an additional 34,982 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in JOANN by 964.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 123,430 shares of the company’s stock valued at $1,375,000 after acquiring an additional 111,830 shares during the period. O Shaughnessy Asset Management LLC bought a new position in shares of JOANN in the third quarter valued at approximately $390,000. J.W. Cole Advisors Inc. acquired a new position in JOANN during the 4th quarter worth about $131,000. Finally, Brown Advisory Inc. increased its position in JOANN by 0.6% in the 4th quarter. Brown Advisory Inc. now owns 395,469 shares of the company’s stock valued at $4,105,000 after acquiring an additional 2,267 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

NASDAQ:JOAN opened at $10.58 on Thursday. The company has a market capitalization of $429.48 million and a P/E ratio of 7.84. The stock’s 50 day moving average price is $11.50 and its 200 day moving average price is $10.83. The company has a debt-to-equity ratio of 5.20, a quick ratio of 0.11 and a current ratio of 1.25. JOANN has a 52 week low of $8.51 and a 52 week high of $17.50.

JOANN (NASDAQ:JOANGet Rating) last announced its quarterly earnings results on Thursday, March 17th. The company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.28. JOANN had a net margin of 2.35% and a return on equity of 62.50%. The company had revenue of $735.30 million for the quarter, compared to analyst estimates of $752.33 million. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. As a group, sell-side analysts forecast that JOANN will post 1.01 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 8th. Shareholders of record on Friday, March 25th were issued a dividend of $0.11 per share. This is a positive change from JOANN’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 4.16%. The ex-dividend date was Thursday, March 24th. JOANN’s dividend payout ratio (DPR) is 32.59%.

JOANN Company Profile (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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