JOANN (NASDAQ:JOAN) Hits New 12-Month High at $13.65


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JOANN Inc. (NASDAQ:JOAN) reached a new 52-week high during trading on Thursday . The company traded as high as $13.65 and last traded at $13.36, with a volume of 495 shares changing hands. The stock had previously closed at $13.00.

JOAN has been the topic of a number of recent analyst reports. Credit Suisse Group initiated coverage on shares of JOANN in a research report on Tuesday. They issued an “outperform” rating and a $16.00 target price on the stock. Piper Sandler initiated coverage on shares of JOANN in a research report on Tuesday. They issued an “overweight” rating and a $14.00 target price on the stock. William Blair assumed coverage on shares of JOANN in a research report on Tuesday. They issued an “outperform” rating on the stock. Telsey Advisory Group assumed coverage on shares of JOANN in a research note on Tuesday. They set an “outperform” rating and a $17.00 price target on the stock. Finally, Bank of America assumed coverage on shares of JOANN in a research note on Tuesday. They set a “buy” rating and a $27.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, JOANN presently has an average rating of “Buy” and a consensus price target of $17.29.

In other news, CEO Wade D. Miquelon acquired 47,550 shares of the firm’s stock in a transaction dated Tuesday, April 6th. The stock was acquired at an average cost of $11.36 per share, with a total value of $540,168.00. Following the completion of the acquisition, the chief executive officer now owns 102,550 shares of the company’s stock, valued at $1,164,968. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Wade D. Miquelon acquired 55,000 shares of the firm’s stock in a transaction dated Tuesday, March 16th. The stock was purchased at an average cost of $12.00 per share, with a total value of $660,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 55,000 shares of the company’s stock, valued at approximately $660,000. The disclosure for this purchase can be found here. Insiders purchased 124,550 shares of company stock valued at $1,464,168 over the last ninety days.

JOANN Company Profile (NASDAQ:JOAN)

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, including cutting implements, threads, zippers, trims, tapes, pins, elastic, and buttons, as well as patterns for sewing projects.

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