Joint (NASDAQ:JYNT) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Joint (NASDAQ:JYNT) from a hold rating to a buy rating in a research note issued to investors on Tuesday, Zacks.com reports. Zacks Investment Research currently has $21.00 target price on the stock.

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 analysts have also commented on JYNT. BidaskClub lowered Joint from a strong-buy rating to a buy rating in a report on Tuesday, July 30th. Roth Capital raised their target price on Joint from $16.00 to $23.00 and gave the stock a buy rating in a report on Monday, June 3rd. TheStreet raised Joint from a d rating to a b rating in a report on Friday, April 26th. DA Davidson set a $21.00 target price on Joint and gave the stock a buy rating in a report on Thursday, May 23rd. Finally, B. Riley assumed coverage on Joint in a report on Thursday, June 20th. They set a buy rating and a $23.00 target price on the stock. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $22.67.

Joint stock opened at $18.25 on Tuesday. The firm has a market capitalization of $251.72 million, a price-to-earnings ratio of 130.43, a price-to-earnings-growth ratio of 8.84 and a beta of 0.97. Joint has a 52 week low of $6.51 and a 52 week high of $21.80. The business’s 50-day moving average is $18.95. The company has a debt-to-equity ratio of 4.38, a quick ratio of 1.00 and a current ratio of 1.00.

Joint (NASDAQ:JYNT) last posted its earnings results on Thursday, August 8th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $11.17 million for the quarter, compared to analyst estimates of $11.08 million. Joint had a return on equity of 109.02% and a net margin of 4.50%. On average, sell-side analysts anticipate that Joint will post 0.21 earnings per share for the current fiscal year.

In other Joint news, Director James H. Amos, Jr. purchased 4,000 shares of the stock in a transaction on Wednesday, June 5th. The shares were bought at an average price of $16.08 per share, for a total transaction of $64,320.00. Following the completion of the transaction, the director now owns 80,497 shares of the company’s stock, valued at approximately $1,294,391.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald V. Davella sold 10,190 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $16.46, for a total value of $167,727.40. Following the transaction, the director now owns 15,457 shares in the company, valued at approximately $254,422.22. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Marshall Wace North America L.P. purchased a new position in shares of Joint in the first quarter valued at approximately $47,000. Strs Ohio purchased a new position in shares of Joint in the second quarter valued at approximately $63,000. Russell Investments Group Ltd. purchased a new position in shares of Joint in the second quarter valued at approximately $71,000. Northern Trust Corp lifted its position in shares of Joint by 16.1% in the fourth quarter. Northern Trust Corp now owns 16,614 shares of the company’s stock valued at $138,000 after acquiring an additional 2,300 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC purchased a new position in shares of Joint in the first quarter valued at approximately $158,000. Institutional investors own 47.48% of the company’s stock.

Joint Company Profile

The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics. The company operates through two segments, Corporate Clinics and Franchise Operations. It operates through direct ownership, management arrangements, franchising, and the sale of regional developer rights. As of March 07, 2019, the company operated 450 clinics in the United States.

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