Joint (NASDAQ:JYNT) Lowered to Hold Rating by Zacks Research

Zacks Research lowered shares of Joint (NASDAQ:JYNT) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

A number of other research analysts have also recently weighed in on JYNT. Wall Street Zen cut shares of Joint from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Weiss Ratings raised Joint from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 12th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Joint Trading Down 0.2%

Joint stock opened at $8.93 on Tuesday. Joint has a 12-month low of $7.50 and a 12-month high of $12.11. The firm has a market capitalization of $127.34 million, a price-to-earnings ratio of 38.83 and a beta of 1.09. The firm has a 50 day moving average of $8.83 and a 200 day moving average of $8.95.

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

Insider Activity at Joint

In other Joint news, major shareholder Charles E. Jobson acquired 127,676 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $8.57 per share, with a total value of $1,094,183.32. Following the purchase, the insider directly owned 1,773,479 shares of the company’s stock, valued at approximately $15,198,715.03. This represents a 7.76% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 30.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Joint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its holdings in shares of Joint by 104.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company’s stock worth $28,000 after purchasing an additional 1,501 shares during the period. JPMorgan Chase & Co. lifted its position in Joint by 32.3% in the second quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company’s stock worth $86,000 after buying an additional 1,810 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Joint by 25.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,244 shares of the company’s stock worth $95,000 after buying an additional 1,698 shares during the period. XTX Topco Ltd purchased a new position in Joint during the fourth quarter worth $124,000. Finally, Wells Fargo & Company MN increased its position in Joint by 78.0% during the fourth quarter. Wells Fargo & Company MN now owns 15,476 shares of the company’s stock valued at $135,000 after acquiring an additional 6,784 shares during the last quarter. 76.88% of the stock is currently owned by hedge funds and other institutional investors.

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.