Joint (NASDAQ:JYNT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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. “

Other equities analysts have also recently issued research reports about the company. ValuEngine cut Joint from a “strong-buy” rating to a “buy” rating in a report on Monday, July 2nd. Roth Capital reaffirmed a “buy” rating on shares of Joint in a report on Friday, August 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.58.

Shares of NASDAQ:JYNT opened at $8.25 on Thursday. Joint has a twelve month low of $4.12 and a twelve month high of $9.64. The company has a market cap of $117.36 million, a P/E ratio of -33.00 and a beta of 0.91. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.75.

Joint (NASDAQ:JYNT) last announced its earnings results on Thursday, August 9th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. Joint had a negative return on equity of 34.99% and a negative net margin of 3.72%. The firm had revenue of $7.56 million during the quarter, compared to the consensus estimate of $7.62 million. On average, equities research analysts forecast that Joint will post 0.06 earnings per share for the current fiscal year.

In other news, Director James H. Amos, Jr. purchased 10,000 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was purchased at an average price of $8.74 per share, with a total value of $87,400.00. Following the acquisition, the director now directly owns 72,797 shares in the company, valued at approximately $636,245.78. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ronald V. Davella sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $8.54, for a total value of $76,860.00. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of JYNT. Acadian Asset Management LLC raised its holdings in Joint by 276.5% in the 2nd quarter. Acadian Asset Management LLC now owns 142,127 shares of the company’s stock valued at $1,162,000 after acquiring an additional 104,373 shares in the last quarter. Advisory Services Network LLC acquired a new position in Joint in the 2nd quarter valued at approximately $162,000. Perkins Capital Management Inc. raised its holdings in shares of Joint by 71.7% in the 2nd quarter. Perkins Capital Management Inc. now owns 51,500 shares of the company’s stock worth $421,000 after buying an additional 21,500 shares in the last quarter. Granite Investment Partners LLC acquired a new position in shares of Joint in the 2nd quarter worth approximately $463,000. Finally, Greenwood Capital Associates LLC acquired a new position in shares of Joint in the 2nd quarter worth approximately $194,000. 52.32% of the stock is owned by hedge funds and other institutional investors.

About Joint

The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics in the United States. It operates through direct ownership, management arrangements, franchising, and the sale of regional developer rights. As of August 9, 2018, the company operated approximately 400 clinics. The company was founded in 2010 and is headquartered in Scottsdale, Arizona.

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