Joint (NASDAQ:JYNT) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Joint (NASDAQ:JYNT) from a buy rating to a hold rating in a report published on Saturday morning, Zacks.com reports.

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. “

JYNT has been the topic of several other research reports. TheStreet upgraded Joint from a d rating to a b rating in a report on Friday, April 26th. BidaskClub downgraded shares of Joint from a strong-buy rating to a buy rating in a research note on Tuesday, July 30th. DA Davidson set a $21.00 price objective on shares of Joint and gave the stock a buy rating in a research note on Thursday, May 23rd. B. Riley began coverage on shares of Joint in a research note on Thursday, June 20th. They issued a buy rating and a $23.00 price objective on the stock. Finally, Roth Capital raised their price objective on shares of Joint from $16.00 to $23.00 and gave the stock a buy rating in a research note on Monday, June 3rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $23.83.

Shares of JYNT stock opened at $18.26 on Friday. Joint has a 12 month low of $6.51 and a 12 month high of $21.80. The company has a debt-to-equity ratio of 4.38, a quick ratio of 1.00 and a current ratio of 1.00. The company’s 50 day moving average is $19.00. The firm has a market capitalization of $251.58 million, a P/E ratio of 456.50, a PEG ratio of 8.98 and a beta of 0.97.

Joint (NASDAQ:JYNT) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Joint had a return on equity of 127.07% and a net margin of 5.38%. The company had revenue of $11.17 million for the quarter, compared to the consensus estimate of $11.08 million. On average, sell-side analysts expect that Joint will post 0.2 earnings per share for the current fiscal year.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Northern Trust Corp raised its holdings in Joint by 16.1% during the 4th quarter. Northern Trust Corp now owns 16,614 shares of the company’s stock worth $138,000 after purchasing an additional 2,300 shares during the last quarter. Redmond Asset Management LLC grew its position in shares of Joint by 3.0% during the 1st quarter. Redmond Asset Management LLC now owns 53,285 shares of the company’s stock worth $839,000 after buying an additional 1,535 shares during the period. Spark Investment Management LLC grew its position in shares of Joint by 43.9% during the 1st quarter. Spark Investment Management LLC now owns 69,928 shares of the company’s stock worth $1,101,000 after buying an additional 21,328 shares during the period. Acadian Asset Management LLC grew its position in shares of Joint by 13.9% during the 1st quarter. Acadian Asset Management LLC now owns 217,266 shares of the company’s stock worth $3,422,000 after buying an additional 26,564 shares during the period. Finally, Alambic Investment Management L.P. grew its position in shares of Joint by 87.2% during the 1st quarter. Alambic Investment Management L.P. now owns 34,176 shares of the company’s stock worth $538,000 after buying an additional 15,922 shares during the period. Hedge funds and other institutional investors own 47.69% of the company’s stock.

About Joint

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.

Further Reading: Quiet Period

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