In a report released today, Zachary Fadem from Wells Fargo maintained a Buy rating on JOANN (JOAN), with a price target of $17.00. The company’s shares closed last Thursday at $14.22, close to its 52-week high of $14.98.
According to TipRanks.com, Fadem is a top 100 analyst with an average return of 29.0% and a 75.1% success rate. Fadem covers the Consumer Goods sector, focusing on stocks such as Petco Health and Wellness Company, National Vision Holdings, and Floor & Decor Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for JOANN with a $19.14 average price target, implying a 41.4% upside from current levels. In a report issued on May 28, Piper Sandler also maintained a Buy rating on the stock with a $17.00 price target.
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Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of JOAN in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
JOANN Inc is engaged in the sewing business. The company provides fabrics, sewing supplies, yarn and needle arts, paper crafting, jewellery making, fabric crafting, craft lights, wedding decorations, and home decor products.
