Joint (NASDAQ:JYNT) Rating Lowered to “Buy” at Wall Street Zen

Joint (NASDAQ:JYNT) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday.

A number of other research analysts have also issued reports on the stock. Zacks Research lowered shares of Joint from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Weiss Ratings lowered shares of Joint from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Joint presently has a consensus rating of “Reduce”.

Joint Stock Down 0.6%

Shares of JYNT stock opened at $8.40 on Friday. The firm has a market capitalization of $118.78 million, a P/E ratio of 31.11 and a beta of 1.10. Joint has a twelve month low of $7.50 and a twelve month high of $11.14. The stock’s fifty day simple moving average is $8.78 and its 200 day simple moving average is $8.81.

Joint (NASDAQ:JYNT) last issued its earnings results on Thursday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. Joint had a return on equity of 12.02% and a net margin of 6.49%.The business had revenue of $15.18 million during the quarter, compared to analysts’ expectations of $14.57 million. As a group, equities research analysts expect that Joint will post 0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Skylands Capital LLC increased its stake in shares of Joint by 0.4% in the first quarter. Skylands Capital LLC now owns 893,195 shares of the company’s stock valued at $7,905,000 after buying an additional 3,150 shares during the period. JCP Investment Management LLC bought a new stake in shares of Joint in the 2nd quarter valued at $5,526,000. Topline Capital Management LLC boosted its stake in shares of Joint by 18.7% in the 2nd quarter. Topline Capital Management LLC now owns 449,204 shares of the company’s stock valued at $5,184,000 after purchasing an additional 70,910 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Joint by 17.6% during the second 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 increased its position in shares of Joint by 0.8% during the fourth 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. 76.88% of the stock is owned by institutional investors and hedge funds.

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.