Zacks Investment Research Downgrades Joint Corp (JYNT) to Hold
According to Zacks, “The Joint Corp. is a healthcare franchisor of chiropractic clinics. The Company’s plans include: Single Visit, Premium Wellness Plan and Wellness Plan. It also provides a family wellness plan. The Company also provides removal of subluxations. It operates its clinics across: Albany, New York; Austin, Texas; Brentwood, California; Fort Mill, South Carolina; Lubbock, Texas; Lynnwood, Washington; Middletown, New Jersey; San Antonio, Texas; San Diego, California and Spartanburg, South Carolina, among others. The Joint Corp. is headquartered in Scottsdale, Arizona. “
Several other research analysts have also commented on the company. Maxim Group cut their price target on Joint Corp from $8.00 to $5.00 and set a buy rating on the stock in a research report on Friday, July 1st. Feltl & Co. lowered Joint Corp from a strong-buy rating to a buy rating in a report on Friday, June 24th.
Shares of Joint Corp (NASDAQ:JYNT) opened at 2.56 on Wednesday. The firm has a 50-day moving average price of $2.57 and a 200 day moving average price of $2.72. Joint Corp has a 52-week low of $1.85 and a 52-week high of $7.65. The stock’s market cap is $32.59 million.
Joint Corp (NASDAQ:JYNT) last posted its earnings results on Thursday, August 11th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.01. The business had revenue of $5 million for the quarter, compared to analysts’ expectations of $3.40 million. Analysts expect that Joint Corp will post ($0.97) earnings per share for the current year.
In other Joint Corp news, CEO Peter D. Holt purchased 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were purchased at an average cost of $2.66 per share, for a total transaction of $79,800.00. Following the completion of the purchase, the chief executive officer now directly owns 10,000 shares in the company, valued at $26,600. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
A number of hedge funds have recently bought and sold shares of the company. Boston Partners increased its stake in Joint Corp by 1.1% in the second quarter. Boston Partners now owns 108,550 shares of the company’s stock worth $220,000 after buying an additional 1,170 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in Joint Corp during the second quarter worth approximately $108,000. Skylands Capital LLC increased its stake in Joint Corp by 12.1% in the second quarter. Skylands Capital LLC now owns 380,734 shares of the company’s stock worth $773,000 after buying an additional 40,950 shares during the last quarter. Finally, Sanders Morris Harris Inc. increased its stake in Joint Corp by 7.0% in the second quarter. Sanders Morris Harris Inc. now owns 2,063,581 shares of the company’s stock worth $4,189,000 after buying an additional 134,753 shares during the last quarter.
Joint Corp Company Profile
The Joint Corp. develops, owns, operates, supports and manages chiropractic clinics through direct ownership, management arrangements, franchising and the sale of regional developer rights throughout the United States. The Company is franchisor and operator of chiropractic clinics. The Company offers its patients the opportunity to visit its clinics without an appointment and receive prompt attention.
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