Zacks Research Upgrades Joint (NASDAQ:JYNT) to Strong-Buy

Joint (NASDAQ:JYNT) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on JYNT. Wall Street Zen raised shares of Joint from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded shares of Joint from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Joint has a consensus rating of “Hold” and an average target price of $18.00.

Joint Trading Down 4.4%

NASDAQ:JYNT opened at $8.30 on Tuesday. Joint has a 12 month low of $7.50 and a 12 month high of $13.47. The company has a market cap of $118.32 million, a PE ratio of 36.09 and a beta of 1.11. The company has a 50 day simple moving average of $8.68 and a two-hundred day simple moving average of $8.82.

Joint (NASDAQ:JYNT) last posted its earnings results on Thursday, May 7th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. Joint had a net margin of 5.72% and a return on equity of 7.00%. The business had revenue of $14.82 million during the quarter, compared to the consensus estimate of $14.50 million. Research analysts forecast that Joint will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Skylands Capital LLC boosted its holdings in Joint by 0.4% in the 1st quarter. Skylands Capital LLC now owns 893,195 shares of the company’s stock worth $7,905,000 after buying an additional 3,150 shares during the period. JCP Investment Management LLC boosted its holdings in Joint by 24.0% in the 3rd quarter. JCP Investment Management LLC now owns 593,906 shares of the company’s stock worth $5,666,000 after buying an additional 115,062 shares during the period. Topline Capital Management LLC boosted its holdings in Joint by 18.7% in the 2nd quarter. Topline Capital Management LLC now owns 449,204 shares of the company’s stock worth $5,184,000 after buying an additional 70,910 shares during the period. Geode Capital Management LLC boosted its holdings in Joint by 17.6% in the 2nd quarter. Geode Capital Management LLC now owns 345,330 shares of the company’s stock worth $3,986,000 after buying an additional 51,704 shares during the period. Finally, State Street Corp boosted its holdings in Joint by 0.8% in the 4th quarter. State Street Corp now owns 292,123 shares of the company’s stock worth $2,547,000 after buying an additional 2,341 shares during the period. Institutional investors own 76.88% of the company’s stock.

Joint Company Profile

The Joint Chiropractic, Inc, doing business as Joint (NASDAQ: JYNT), is a franchisor and operator of outpatient chiropractic clinics in the United States. Under its flagship The Joint Chiropractic brand, the company offers membership-based, cash-focused spinal adjustment services designed to promote accessible, routine care for neck and back discomfort. By removing insurance requirements and offering walk-in visits, Joint aims to streamline the patient experience and reduce cost barriers to ongoing chiropractic treatment.

Joint’s growth strategy centers on partnering with franchisees to expand its network of clinics.